Author Question: When the economy is at an above full-employment equilibrium, ________. A) nominal GDP exceeds ... (Read 103 times)

WhattoUnderstand · **on:** Jun 29, 2018

When the economy is at an above full-employment equilibrium, ________.

A) nominal GDP exceeds real GDP
B) an inflationary gap exists
C) a recessionary gap exists
D) real GDP is less than potential GDP

Question 2

In the figure above, which movement could be the result of the development of a new, more efficient refining technology?

A) point a to point e
B) point a to point b
C) point a to point c
D) point a to point d