If the Average Interval Between Firms' Price Adjustments Is Relatively

question 284

Multiple Choice

If the average interval between firms' price adjustments is relatively short

• A) an increase in aggregate demand will cause a relatively short-lived increase in real GDP.
• B) an increase in aggregate demand will cause a relatively long-lived increase in real GDP.
• C) a reduction in aggregate demand will cause a relatively long-lived reduction in real GDP.
• D) both B and C

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience within an organizational or societal structure.

Line Positions

Roles within an organization directly involved in the core business operations, responsible for achieving company objectives.

Geographical Groupings

The classification of areas or locations based on geographic characteristics or proximity for analysis or organizational purposes.

Sales Territories

Defined geographic areas or customer groups for which individual sales representatives or sales teams are responsible.