Long-Run Inflation Tends to

question 7

Multiple Choice

Long-run inflation tends to

• A) reduce employment, output, and consumption.
• B) reduce consumption, but increase employment and output.
• C) increase output and consumption, but reduce employment.
• D) increase employment, but reduce output and consumption.
• E) reduce output and employment, but increase consumption.

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Definitions:

Motion Study

The science of reducing a task to its basic physical motions.

Task Evaluation

The process of assessing the performance and effectiveness of a specific task or activity in achieving its objectives.

Job Evaluation

A systematic process for determining the relative worth or value of a job in relation to other jobs within an organization, often to establish fair compensation.

Frederick Taylor

The founder of scientific management theory, advocating for efficiency and productivity through systematic study and the division of labor.