Author Question: At long-run macroeconomic equilibrium, ________. A) an inflationary gap exists B) real GDP ... (Read 78 times)

schs14 · **on:** Jun 29, 2018

At long-run macroeconomic equilibrium, ________.

A) an inflationary gap exists
B) real GDP equals potential GDP
C) a recessionary gap exists
D) real GDP is less than potential GDP but is as close as it is possible to be

Question 2

The market supply curve shows the

A) minimum price suppliers must receive in order to produce another unit of the good.
B) maximum price suppliers must receive in order to produce another unit of the good.
C) amount of producer surplus suppliers receive.
D) profit that suppliers receive from producing another unit of the good.