Author Question: A recessionary gap: a. is of little consequence in a capitalist economy. b. represents actual ... (Read 65 times)

Tazate · **on:** Jun 30, 2018

A recessionary gap:
a. is of little consequence in a capitalist economy.
b. represents actual physical output lost.
c. implies an equilibrium level of output less than the full-employment level.
d. is associated with rising labor prices.
e. will automatically close, according to the Keynesian model.

Question 2

By functioning as a unit of account, money provides a common measurement of the relative value of goods and services.
a. True
b. False
Indicate whether the statement is true or false