When the economy is at an above full-employment equilibrium, ...

[WhattoUnderstand]

When the economy is at an above full-employment equilibrium, ________.
 
  A) nominal GDP exceeds real GDP
  B) an inflationary gap exists
  C) a recessionary gap exists
  D) real GDP is less than potential GDP

Question 2

In the figure above, which movement could be the result of the development of a new, more efficient refining technology?
 
  A) point a to point e
  B) point a to point b
  C) point a to point c
  D) point a to point d

[xoxo123]

Answer to Question 1

B

Answer to Question 2

B

[WhattoUnderstand]

Thanks for the timely response, appreciate it

[Laurenleakan]

Excellent