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Author Question: Explain the relationship between potential GDP and real GDP in the United States since the early ... (Read 113 times)

Arii_bell

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on: Jun 29, 2018
Explain the relationship between potential GDP and real GDP in the United States since the early 1960s. You do not need to tell what happened during any specific year; just describe the general relationship.
 
  What will be an ideal response?

Question 2

The implicit rental rate for capital includes the
 
  A) total value of a piece of capital equipment.
  B) interest income forgone by purchasing the piece of capital equipment.
  C) firm's normal profit.
  D) amount paid for the use of a piece of capital equipment owned by someone else.


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vickybb89

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Potential GDP has grown over the period, albeit at a slower rate over the past 3 decades, while the level of real GDP has fluctuated around potential GDP throughout.

Answer to Question 2

B


Arii_bell

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Reply #2 on: Jun 29, 2018
Thank you :)


vickybb89

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Reply #3 on: Jun 29, 2018
Happy to help you


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