« previous next »

Author Question: How are potential GDP, full employment and the LAS curve related? What will be an ideal ... (Read 32 times)

chads108

  • Hero Member
  • *****
  • Posts: 507
on: Jun 29, 2018
How are potential GDP, full employment and the LAS curve related?
 
  What will be an ideal response?

Question 2

If a Lorenz curve moves leftward and becomes closer to the line of equality over time, then
 
  A) the population is growing.
  B) income is growing.
  C) income is being more equally distributed.
  D) income is being more unequally distributed.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


Jane

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 29, 2018
Answer to Question 1

When the economy is at full employment there is no cyclical unemployment and the economy is at its potential level of real GDP. The LAS curve is vertical at the level of potential real GDP.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Changes that occur during an action potential. Changes that occur during an action potential.
The titration curve of the buffer acetic acid (CH3COOH) The titration curve of the buffer acetic acid (CH3COOH)
Mead analyzed taking the role of the other as an essential part of learning to be a full-fledged ... Mead analyzed taking the role of the other as an essential part of learning to be a full-fledged ...
Synaptic transmission. (a) Action potential reaches synapse; (b) neurotransmitter released synaptic ... Synaptic transmission. (a) Action potential reaches synapse; (b) neurotransmitter released synaptic ...
The potential involvement of colchicine in doubling the chromosome number The potential involvement of colchicine in doubling the chromosome number
Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus). Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus).
Video: Prone Position

For a complete list of videos, visit our video library