Figure 17-7 -Refer to Figure 17-7.In the Dynamic AD-AS Model,if the Economy

question 17

Multiple Choice

Figure 17-7
-Refer to Figure 17-7.In the dynamic AD-AS model,if the economy is at point A in year 1 and is expected to go to point B in year 2,and the Federal Reserve pursues no policy,then at point B

• A)firms are producing above capacity.
• B)there is pressure on wages and prices to fall.
• C)the unemployment rate is greater than the natural rate of unemployment.
• D)incomes and profits are falling.

---

Definitions:

Empowerment

The process of increasing the autonomy, authority, and influence of individuals or groups to make decisions and take actions that affect their work and overall organizational performance.

Personality Trait

Enduring characteristics or tendencies that determine an individual's behavior across various situations and over time.

Job Characteristics Model

A theory that suggests jobs can be designed with specific characteristics (skill variety, task identity, task significance, autonomy, and feedback) to increase job satisfaction and performance.

Experienced Meaningfulness

A psychological state in which an individual feels their work has significance, purpose, or value.