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

Author Question: The table below shows data for India's economy. Real GDP is measured in millions of rupees. Suppose ... (Read 89 times)

HCHenry

  • Hero Member
  • *****
  • Posts: 591
on: Jun 29, 2018
The table below shows data for India's economy. Real GDP is measured in millions of rupees. Suppose that full employment occurs when real GDP is 27,000 million rupees.
 
  Price level Real GDP
  supplied in the short run Real GDP demanded
  a 114 23,501 35,898
  b 120 25,355 32,341
  c 125 27,670 27,670
  d 131 30,366 18,569
  e 138 33,164 15,898
 
  The economy is experiencing ________ gap and firms will ________.
  A) an inflationary gap; increase production
  B) an inflationary gap; increase money wages paid to workers
  C) a recessionary gap; increase production
  D) a recessionary gap; decrease money wages paid to workers

Question 2

From left to right, the horizontal axis of the Lorenz curve ranks households from
 
  A) smallest to largest.
  B) largest to smallest.
  C) poorest to richest.
  D) richest to poorest.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Christopher

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


HCHenry

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jun 29, 2018
Thank you :)


Christopher

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Prevalence of Diabetes in the United States Based on Age and Sex Data from the American Diabetes ... Prevalence of Diabetes in the United States Based on Age and Sex Data from the American Diabetes ...
a) When standing, keep your weight over your front leg. b) Avoid placing your foot under the table. ... a) When standing, keep your weight over your front leg. b) Avoid placing your foot under the table. ...
Use a step stool to help an infirm client get on and off the table. Use a step stool to help an infirm client get on and off the table.
Work and Gender: Women at Work in India Work and Gender: Women at Work in India
The data link connector (DLC) can be located in various locations. The data link connector (DLC) can be located in various locations.
Video: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library