Use the Following to Answer Question

question 31

Multiple Choice

Use the following to answer question :
-(Figure: The Great Disinflation) Refer to Figure: The Great Disinflation.In the early 1980s,the inflation rate was beaten down by the Bank of Canada's tight monetary policy.In the short run this policy led to a _____ level of actual output and a _____ rate of unemployment.

• A) high;high
• B) low;high
• C) low;low
• D) high;low

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Definitions:

McDonaldization

A term that describes the process by which the principles of the fast-food industry, such as efficiency, predictability, and standardization, have come to dominate other sectors of society.

Rationalization

Rationalization is the application of the most efficient means to achieve given goals and the unintended, negative consequences of doing so.

Fast-Food Restaurants

Eateries that offer quick service, convenience, and food that is prepared in bulk in advance and kept hot or reheated to order.

World Exploration

The historical process of discovering new lands, cultures, and resources by people from one part of the world travelling to others, often leading to significant cultural exchanges and transformations.