The Level of Real GDP in the Long Run Is

question 283

Multiple Choice

The level of real GDP in the long run is called

• A)potential GDP.
• B)short-run GDP.
• C)frictional GDP.
• D)low-capacity GDP.

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Definitions:

Modern Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context, emphasizing recent developments and methodologies.

William James

An American philosopher and psychologist, often referred to as the father of American psychology.

Functionalists

A perspective in sociology and psychology that emphasizes the importance of the roles that elements of society or consciousness serve in making the whole system work.

William James

A pioneering American psychologist and philosopher known for his theories on pragmatism and functionalism.