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Author Question: If the equilibrium price of a good increases and the equilibrium quantity of the good decreases, we ... (Read 122 times)

stephzh

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on: Jun 30, 2018
If the equilibrium price of a good increases and the equilibrium quantity of the good decreases, we can conclude that
 
  A) demand decreased. B) supply decreased.
  C) supply increased. D) demand increased.

Question 2

Which of the following is true?
 
  A) Potential GDP fluctuates around nominal GDP.
  B) Nominal GDP fluctuates around real GDP.
  C) Real GDP never equals potential GDP.
  D) The Okun Gaps are much larger than the Lucas Wedge.
  E) Real GDP fluctuates around potential GDP.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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frejo

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

E


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