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Author Question: Which of the following is true when an economy is in long-run equilibrium? a. Actual output can ... (Read 117 times)

jon_i

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on: Jun 30, 2018
Which of the following is true when an economy is in long-run equilibrium?
 a. Actual output can exceed potential output.
 b. Potential output can exceed actual output.
 c. Actual output must equal potential output.
 d. Real GDP must equal nominal GDP.
 e. Expected price level can exceed actual price level.

Question 2

The Fed can close a recessionary gap by:
 a. increasing fiscal expenditure.
 b. increasing taxes.
 c. decreasing taxes.
 d. selling U.S. government bonds.
  e. lowering the discount rate.


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Koolkid240

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

c

Answer to Question 2

e


jon_i

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

carojassy25

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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