A Contraction in an Aggregate Demand Can Cause

question 125

Multiple Choice

A contraction in an aggregate demand can cause:

• A) an increase in employment.
• B) a decrease in unemployment.
• C) an increase in real GDP.
• D) a recession.

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Definitions:

Phylum

A classification level in the biological taxonomy that ranks above class and below kingdom, used to group organisms that share a common basic structure.

Piagetian Perspective

A theory of cognitive development proposed by Jean Piaget that describes how children construct knowledge through interactions with their environment, emphasizing stages of development.

Accommodation

Piagetian concept of adjusting schemes to fit new information and experiences.

Assimilation

Piagetian concept of the incorporation of new information into existing knowledge.