In the Long Run,changes in Equilibrium GDP Are Most Likely

question 177

Multiple Choice

In the long run,changes in equilibrium GDP are most likely to be caused by

• A) changes in full-employment output
• B) open market operations by the Fed
• C) changes in nominal wages
• D) contractionary or expansionary fiscal policy
• E) none of these;long-run equilibrium GDP is a constant

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Definitions:

Sensory Memory

The shortest-term memory which acts as a buffer for stimuli received through the senses, lasting only a few seconds.

Executive Function

A set of cognitive processes including working memory, flexible thinking, and self-control, crucial for managing tasks and behavior.

Sensory Regulation

The process of managing incoming sensory stimuli to maintain an optimal level of arousal and performance.

Categorization

The process in which ideas and objects are recognized, differentiated, and understood.