?
Exhibit 10A-3 Macro AD-AS Model
In Exhibit 10A-3, the level of real GDP associated with Y1:?
A. ?is equal to potential real GDP.
B. ?is an inflationary gap real GDP.
C. ?is a long-run equilibrium.
D. ?is caused by flexible wages and prices.
Answer: B
You might also like to view...
The goal of the defendant is to ________ their ________.
A) maximize; gain B) minimize; loss C) minimize; gain D) maximize; loss
Economies of scale involve
A. economies realized by producing several goods simultaneously. B. economies in marketing and transportation of many products. C. economies from being larger and have lower cost per unit. D. all of the above.
When bank deposits increase from $1 million to $2 million, bank reserves increase from $100,000 to $200,000. If banks hold no excess reserves, then the required reserve ratio is
What will be an ideal response?
The chain-weighted output index
A) uses only the current year's prices to calculate growth in real GDP. B) uses prices for the current year and the previous year to calculate growth in real GDP. C) must be calculated only every other year. D) is an inaccurate way to measure growth in real GDP and so has been replaced by the "nominal-to-real" index.