This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The table below shows data for India's economy. Real GDP is measured in millions of rupees. Suppose ... (Read 109 times)

HCHenry

  • Hero Member
  • *****
  • Posts: 591
on: Jun 29, 2018
The table below shows data for India's economy. Real GDP is measured in millions of rupees. Suppose that full employment occurs when real GDP is 27,000 million rupees.
 
  Price level Real GDP
  supplied in the short run Real GDP demanded
  a 114 23,501 35,898
  b 120 25,355 32,341
  c 125 27,670 27,670
  d 131 30,366 18,569
  e 138 33,164 15,898
 
  The economy is experiencing ________ gap and firms will ________.
  A) an inflationary gap; increase production
  B) an inflationary gap; increase money wages paid to workers
  C) a recessionary gap; increase production
  D) a recessionary gap; decrease money wages paid to workers

Question 2

From left to right, the horizontal axis of the Lorenz curve ranks households from
 
  A) smallest to largest.
  B) largest to smallest.
  C) poorest to richest.
  D) richest to poorest.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Christopher

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


HCHenry

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jun 29, 2018
Thank you :)


Christopher

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
Data from more than 22,000 men over the age of 40, showing the relationship between birth weight and ... Data from more than 22,000 men over the age of 40, showing the relationship between birth weight and ...
Wheelchair Transfer to a Chair or Examination Table Wheelchair Transfer to a Chair or Examination Table
Section of a normal brain (left) and an HD brain (right). The HD brain shows extensive damage to the Section of a normal brain (left) and an HD brain (right). The HD brain shows extensive damage to the
Which of the following reactions correctly shows the transmutation of an element by neutron ... Which of the following reactions correctly shows the transmutation of an element by neutron ...
Number line (real numbers) Number line (real numbers)
Video: Carbohydrate digestion (brush border enzymes, end products) & Carb absorption (fructose, galactose)

For a complete list of videos, visit our video library