In Macroland potential GDP equals $20 billion and real GDP equals $19.2 billion. Macroland has a(n) ________ gap.
A. recessionary
B. expansionary
C. potential
D. no
Answer: A
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The use of psychological incentives to solve commitment problems would be least effective in games played:
A. once between strangers. B. repeatedly between strangers. C. repeatedly between family members. D. once between family members.
An increase in a product's price will shift the labor demand curve for workers who produce that product to the left
a. True b. False Indicate whether the statement is true or false
When the market for a good is in equilibrium,
What will be an ideal response?
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.