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

Author Question: Which of the following is true when an economy is in long-run equilibrium? a. Actual output can ... (Read 53 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Koolkid240

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


jon_i

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

This Black-browed Albatross has been hooked on a long-line. This Black-browed Albatross has been hooked on a long-line.
Links to the World Economy Links to the World Economy
A pipe that is 0.46 m long and open at both ends vibrates in the second overtone with a ... A pipe that is 0.46 m long and open at both ends vibrates in the second overtone with a ...
What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ... What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ...
Intraaortic balloon pump. The balloon deflates during systole, so cardiac output is unimpeded. Intraaortic balloon pump. The balloon deflates during systole, so cardiac output is unimpeded.
Perform the indicated division (long division polynomials) Perform the indicated division (long division polynomials)
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library