Adrian Is Served an Exotic Meal While Traveling with Valatia

question 45

Multiple Choice

Adrian is served an exotic meal while traveling with Valatia Airlines.Adrian is pleasantly surprised by the quality of the meal and is a very happy customer.He is extremely satisfied with the exquisite customer service.In addition,the airlines also offered a special rebate on his next flight with Valatia Airlines.This is an example of a(n) :

• A)purely tangible service.
• B)purely intangible service.
• C)goods-service continuum.
• D)inseparable service.

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Definitions:

Natural Rate

The natural rate refers to the long-term unemployment rate that an economy experiences under normal conditions, unaffected by short-term cyclical fluctuations.

Full-Employment

A scenario where an economy utilizes all accessible labor resources in the most optimized manner.

Potential Output

Represents the highest level of real Gross Domestic Product (GDP) that can be sustained over the long term without increasing the rate of inflation.

Sustainable Output

The level of production that can be maintained over the long term without depleting natural resources or harming the environment.