Contrary to the Behavior That Would Be Required to Eliminate

question 99

Multiple Choice

Contrary to the behavior that would be required to eliminate output gaps, many firms in the economy:

• A) intentionally set prices below equilibrium prices in order to create shortages.
• B) adjust their prices only periodically.
• C) have fully-flexible prices that change constantly.
• D) only change the amount of output they produce in the long run, not in the short run.

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Definitions:

Cognitive Dissonance

a psychological conflict resulting from incongruous beliefs and attitudes held simultaneously.

Employee Attitudes

The set of emotions, beliefs, and behaviors toward aspects of their work environment that employees hold.

Stress Management Program

A structured approach to helping individuals identify stressors and learn skills to reduce or manage stress.

Physiological Consequences

Refers to the physical effects or outcomes that result from certain behaviors, environments, or external stimuli on the human body.