What Is the Term for the Effect of a Rise

question 15

Multiple Choice

What is the term for the effect of a rise in total output leading to an increase in the demand for labour?

• A)The crowding-out effect.
• B)The factor substitution effect.
• C)The real-balances effect.
• D)The factor output effect.

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Definitions:

Symbolic Interactionism

Theory of how the self emerges from human interaction that involves people trading symbols (through language and gesture) that are usually consensual and represent abstract properties rather than concrete objects.

Non-verbal Cues

Forms of communication without words, such as gestures, facial expressions, body language, and postures, conveying messages or emotions.

Cognitive Constructs

Mental models or concepts that individuals use to organize and interpret their experiences.

Identity

The qualities, beliefs, personality, looks, and expressions that make a person (self-identity) or group (collective identity) distinct from others.