Which of the Following Statements Is Incorrect

question 35

Multiple Choice

Which of the following statements is incorrect?

• A)The point where the short-run and long-run supply curves intersect corresponds to the potential level of output
• B)Any point on the short-run aggregate supply curve reflects current inflation equals actual inflation
• C)Inflation and output are unrelated in the long run
• D)In the long run, inflation is determined by monetary policy

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Definitions:

Attribution Theory

A psychological theory that attempts to explain how individuals determine the causes of others' behavior, attributing it to internal dispositions or to external situations.

Lazy

Characterized by a lack of effort or unwillingness to expend energy in tasks.

Slow Shifts

Gradual changes or movements towards a different state or condition.

Ingratiation

A psychological technique in which an individual attempts to become more appealing to others through flattery or other forms of manipulation.