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 92 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?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Electron microscopy of mRNA-template DNA hybrids shows that introns are spliced Electron microscopy of mRNA-template DNA hybrids shows that introns are spliced
This photo shows a newborn baby minutes after birth. This photo shows a newborn baby minutes after birth.
Climate change occurs over millions of years Climate change occurs over millions of years
Decomposition of Productivity Gap Between India and the United States Decomposition of Productivity Gap Between India and the United States
Seven bacteriophage deletion mutations (1 to 7 in the table below) are tested for their ability ... Seven bacteriophage deletion mutations (1 to 7 in the table below) are tested for their ability ...
table table
Video: Humerus Adduction Animation

For a complete list of videos, visit our video library