When existing stocks of resources are being heavily utilized, actual output is
A) likely to grow much faster than natural output.
B) likely to grow more slowly than natural output.
C) equal to natural output.
D) no longer tied to natural output.
C
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Based on the table above, the cost of the base period market basket in 2013 is
A) $3,300. B) $4,885. C) $4,650. D) $3,885. E) None of the above answers is correct.
Money must be relatively "scarce" if it is to have value. True or False?
Indicate whether the statement is true or false.
What is the relationship between real and nominal interest rates?
a. They are both different names for the same thing. b. The real interest rate is the rate stated on a loan. c. Real interest rate is calculated by subtracting inflation from nominal interest rate. d. Nominal interest rate is calculated by subtracting inflation from real interest rate.
What is the difference between product markets and factor markets?
What will be an ideal response?