If the economy is in a recessionary gap,
A) Real GDP is greater than Natural Real GDP.
B) Real GDP is equal to Natural Real GDP.
C) Real GDP is less than Natural Real GDP.
D) the (actual) unemployment rate is less than the natural unemployment rate.
E) a and d
C
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The entire U.S. federal budget process, beginning with the delivery of the President's budget to Congress and ending with the beginning of the fiscal year, takes about _____
a. one month b. six months c. nine months d. one year e. three months
Global warming and biodiversity are examples of ______________ and must, therefore, be addressed by multiple nations rather than a single nation acting alone.
a. international externalities b. national vulnerabilities c. multinational exigencies d. protectionist values
The unionization rate grew most rapidly in the United States between
A. 1935 and 1945. B. 1980 and 1988. C. 1950 and 1953. D. 1880 and 1901.
If, as a perfectly competitive industry expands, it can supply larger quantities at the same long-run market price, it is
A) a constant-cost industry. B) an increasing-cost industry. C) a decreasing-cost industry. D) a fixed-cost industry.