This topic contains a solution. Click here to go to the answer

Author Question: A recessionary gap occurs when A) aggregate demand falls, but other things remain constant. B) ... (Read 132 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
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
Answer to Question 1

B

Answer to Question 2

C





 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

For a complete list of videos, visit our video library