Figure 23-2 -Refer to Figure 23-2.Suppose That the Level of GDP Associated

question 18

Multiple Choice

Figure 23-2
-Refer to Figure 23-2.Suppose that the level of GDP associated with point N is potential GDP.If the U.S.economy is currently at point K,

• A)firms are operating above capacity.
• B)the economy is at full employment.
• C)the economy is in recession.
• D)the level of unemployment is equal to the natural rate.

---

Definitions:

Linguistic Determinism

Whorf’s hypothesis that language determines the way we think.

Heuristic

is a mental shortcut that allows people to solve problems and make judgments quickly and efficiently, often based on previous experiences.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses, while giving disproportionately less consideration to alternative possibilities.

High-quality Cosmetics

Beauty products that are manufactured with superior ingredients, offering better performance, longevity, and safety for the user.