This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A recessionary gap occurs when A) aggregate demand falls, but other things remain constant. B) ... (Read 147 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jun 30, 2018
A recessionary gap occurs when
 
  A) aggregate demand falls, but other things remain constant.
  B) the short-run equilibrium level of real GDP is less than the level consistent with the long-run aggregate supply curve.
  C) the short-run equilibrium level of real GDP is greater than the level consistent with the long-run aggregate supply curve.
  D) short-run aggregate supply falls, but other things remain constant.

Question 2

According to this Application, in the 1990s EU countries had ________ in the production of all products compared to Latvia.
 
  A) an absolute advantage and a comparative advantage
  B) neither an absolute advantage nor a comparative advantage
  C) an absolute advantage but not a comparative advantage
  D) a comparative advantage but not an absolute advantage


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


sammy

  • Hero Member
  • *****
  • Posts: 818
Reply #2 on: Jun 30, 2018
Thank you :)


ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi
Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
Hiatal hernia. (a) The hernia occurs when the stomach protrudes through the diaphragm and into the t Hiatal hernia. (a) The hernia occurs when the stomach protrudes through the diaphragm and into the t
J. M. W. Turner, The Upper Falls of the Reichenbach. J. M. W. Turner, The Upper Falls of the Reichenbach.
The Solar Constant The Solar Constant
The glutamine synthetase reaction occurs via an acyl phosphate intermediate The glutamine synthetase reaction occurs via an acyl phosphate intermediate
Video: Types of Shock (Part 2 of 2)

For a complete list of videos, visit our video library