When equilibrium real GDP falls short of potential GDP, there is a(n)
a. inflationary gap.
b. potential gap.
c. recessionary gap.
d. precautionary gap.
c
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The GDP price index equals
i. nominal GDP divided by real GDP multiplied by 100. ii. a measure of the price level. iii. an average of current prices expressed as a percentage of base-year prices. A) i, ii, and iii B) iii only C) ii and iii D) i only E) i and ii
Which government agency is in charge of hearing workers’ complaints of discrimination against them by their employer?
a. SEC b. BLS c. FCEE d. EEOC
In the United States, which of the following is an example of a government-inhibited good?
A. education B. cocaine C. sports stadiums D. museums
An increase in the amount of money in circulation would cause a
A. movement up the aggregate demand curve. B. shift of the aggregate demand curve to the left. C. movement down the aggregate demand curve. D. shift of the aggregate demand curve to the right.