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

Author Question: A recessionary gap occurs when A) aggregate demand falls, but other things remain constant. B) ... (Read 79 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jun 30, 2018
A recessionary gap occurs when
 
  A) aggregate demand falls, but other things remain constant.
  B) the short-run equilibrium level of real GDP is less than the level consistent with the long-run aggregate supply curve.
  C) the short-run equilibrium level of real GDP is greater than the level consistent with the long-run aggregate supply curve.
  D) short-run aggregate supply falls, but other things remain constant.

Question 2

According to this Application, in the 1990s EU countries had ________ in the production of all products compared to Latvia.
 
  A) an absolute advantage and a comparative advantage
  B) neither an absolute advantage nor a comparative advantage
  C) an absolute advantage but not a comparative advantage
  D) a comparative advantage but not an absolute advantage


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


sammy

  • Hero Member
  • *****
  • Posts: 818
Reply #2 on: Jun 30, 2018
Thank you :)


ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Risk for falls Risk for falls
The Solar Constant The Solar Constant
Classic Supply - Demand Curve Classic Supply - Demand Curve
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
In Falls, Energy Is Transmitted Along the Skeletal System In Falls, Energy Is Transmitted Along the Skeletal System
Video: Fetal development - Weeks 9 to 38

For a complete list of videos, visit our video library