If the Economy's Full-Employment Output Is $12 Trillion, Actual Output

question 73

Multiple Choice

If the economy's full-employment output is $12 trillion, actual output is $10 trillion, and the budget deficit is $2 trillion, the deficit in this case is known as a

• A) natural employment deficit.
• B) cyclical deficit.
• C) structural deficit.
• D) debt deficit.

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Definitions:

Task Identity

The degree to which a job involves completing a whole, identifiable piece of work from start to finish, enhancing job satisfaction.

Job Characteristics Model

A theoretical framework proposing that five core job characteristics (skill variety, task identity, task significance, autonomy, and feedback) influence job satisfaction and performance.

Psychological States

Conditions of the mind that impact feelings, thoughts, and behavior, varying from moment to moment.

Efficiency

Achieving maximal output with minimal input.