Use the Following to Answer Questions

question 187

Multiple Choice

Use the following to answer questions:
Figure: AD-AS
-(Figure: AD-AS) Look at the figure AD-AS. Suppose the economy is producing the output level Y_p and a negative demand shock shifts the AD₁ curve to AD₃. The economy now has a(n) _____ gap, which can be closed by _____ fiscal policy.

• A)inflationary; expansionary
• B)recessionary; contractionary
• C)recessionary; expansionary
• D)inflationary; contractionary

Assess the profitability of a company through the analysis of income, expenses, and net income.

Prepare basic financial statements, including income statements, balance sheets, and statements of owner's equity.

Identify the types of transactions that influence owner's equity.

Calculate net income or loss based on changes in capital and withdrawals.

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Definitions:

Anthropocentric

A perspective that views humans as the most important entities in the universe, often leading to the evaluation of environmental issues primarily in terms of human interests.

Consequentialism

An ethical theory that judges whether something is right based on its consequences.

Planetary Management

An approach to governance that emphasizes the active management of Earth's resources and systems for sustainable human development while considering the needs of future generations.

Blind Technological Optimism

The belief in technology as a solution for all problems, without consideration for potential negative impacts or failures.