Which of the Following Is Correct If There Is a Favorable

question 33

Multiple Choice

Which of the following is correct if there is a favorable supply shock?

• A)the short-run aggregate supply curve and the short-run Phillips curve both shift right.
• B)the short-run aggregate supply curve and the short-run Phillips curve both shift left.
• C)the short-run aggregate supply curve shifts right and the short-run Phillips curve shifts left.
• D)the short-run aggregate supply curve shifts left and the short-run Phillips curve shifts right.

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Definitions:

Intrinsic Motivation

The drive to perform an activity for its inherent satisfaction rather than for some separable consequence or reward.

Extrinsic Motivation

The drive to perform actions or engage in activities due to external rewards or pressures.

Performance-Based Pay

A compensation strategy that ties employee pay directly to their performance, encouraging higher levels of output or quality.

Psychological Distance

The feeling of how close or far off an object or event is to an individual, psychologically, rather than in a physical manner.