Expansionary and contractionary gaps are automatically eliminated ...

[magmichele12]

Expansionary and contractionary gaps are automatically eliminated by shifts in aggregate demand.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the real gross domestic product (GDP) for the base year is 3 trillion, then the nominal gross domestic product (GDP) for that year is _____.
 a. .03 trillion
  b. 0.3 trillion
 c. 3 trillion
 d. 30 trillion
 e. 300 trillion

[Kimmy]

Answer to Question 1

False

Answer to Question 2

c