Author Question: A recessionary gap means that the level of real GDP at the short-run macroeconomic equilibrium A) ... (Read 87 times)

audie · **on:** Jun 29, 2018

A recessionary gap means that the level of real GDP at the short-run macroeconomic equilibrium

A) is less than full-employment GDP.
B) equals full-employment GDP.
C) is more than full-employment GDP.
D) may be less than, more than, or the same as full-employment GDP depending on the level of potential GDP.

Question 2

In the above table, the efficient quantity of brownies is produced when the price of a brownie is equal to

A) 0.
B) 40.
C) 60.
D) 80.