The High Rates of Inflation That Were Experienced in the 1970s

question 48

Multiple Choice

The high rates of inflation that were experienced in the 1970s could partly be blamed on all of the following except:

• A)The assumption the economy would continue to grow at the rates that the economy experienced in the 1960s
• B)The Viet Nam war
• C)High oil prices
• D)Slow growth rates of potential GDP during the 1970s

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Definitions:

Demotivate People

Actions or conditions that lead to a decrease in an individual's motivation, enthusiasm, or willingness to engage in activities or achieve goals.

Job Characteristics Model

A framework suggesting that job design should consider five core dimensions (skill variety, task identity, task significance, autonomy, and feedback) to enhance employee motivation, satisfaction, and performance.

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.

Telecommuting

A work arrangement in which employees do not commute to a central place of work but rather perform their job duties remotely, typically from home, using digital communication tools.