The situation where the actual output (where AD and SRAS intersect) is less than LRAS, this is an example of an <u>inflationary gap</u>.
<h3>What is an
inflationary gap?</h3>
An inflationary gap refers to the difference between the real GDP and the full-employment real GDP. It is also called an expansionary gap.
The recessionary gap is when actual output (where AD and SRAS intersect) is <u>less</u> than LRAS.
<h3>What is
recessionary gap?</h3>
A recessionary gap refers to the situation that occur when the country's real GDP is lower than its GDP at full employment.
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It is training that you need for a career that you want to do and you go there during high school to do the training
Answer:
Hours of labor or number of workers are common ways of measuring a company's productivity.
Explanation:
Productivity refers to output per unit of input. It means efficient usage of labor, capital, land, materials, resources, energy and so on in the production of goods and provision of services. In other words, it is the efficiency of the production process or measurement of efficiency.
Answer:
Firms may be inclined to keep their workers’ wages above the equilibrium level.
Explanation:
The efficiency wage theory states that if an employer increases the wage of his/her employees, they will be motivated and their productivity will increase. The increase in productivity should offset the increased labor costs. So the costs of higher wages should be recouped through increased productivity. Higher wages also reduce worker turnover, reducing hiring and training costs.
Answer: A mutal fund is a professionally managed investment fund that pools money from many investors to purchase securities. the term is typically used in the United States, Canada, and India while simular structures across the globe include the SICAV in Europe and open-ended investment company in the UK.
Explanation: