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

Author Question: Which of the following is true when an economy is in long-run equilibrium? a. Actual output can ... (Read 80 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
Which of the following is true when an economy is in long-run equilibrium?
 a. Actual output can exceed potential output.
 b. Potential output can exceed actual output.
 c. Actual output must equal potential output.
 d. Real GDP must equal nominal GDP.
 e. Expected price level can exceed actual price level.

Question 2

The Fed can close a recessionary gap by:
 a. increasing fiscal expenditure.
 b. increasing taxes.
 c. decreasing taxes.
 d. selling U.S. government bonds.
  e. lowering the discount rate.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Koolkid240

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


jon_i

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Long-tailed Widowbird Long-tailed Widowbird
Comparison of reactions at equilibrium and steady state Comparison of reactions at equilibrium and steady state
The features found in a long bone. The features found in a long bone.
All computer systems perform four basic functions: input, processing, storage, and output. All computer systems perform four basic functions: input, processing, storage, and output.
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
Video: Introduction to Tuberculosis

For a complete list of videos, visit our video library