If the GDP gap is -$3.5 trillion, then
A. workers are employed overtime.
B. the economy is experiencing a boom.
C. the economy is in a recession.
D. cyclical unemployment is negative.
Answer: C
You might also like to view...
Which researcher argues that the slave system and its enforcement mechanisms prevented slave individualism from emerging within the system itself?
(a) Robert Fogel (b) Stanley Engerman (c) Stanley Elkins (d) Kenneth Stampp
After the price of smartphone apps falls, Justin buys fewer flash drives but he buys a new smartphone. For Justin
A) smartphone apps and flash drives are complements, and smartphone apps and smartphones are substitutes. B) smartphone apps, flash drives, and smartphones are all complements. C) smartphone apps and flash drives are substitutes, and smartphone apps and smartphones are complements. D) smartphone apps, flash drives, and smartphones are not all complements.
According to the graph shown, at a price of $5, there is a:
A. shortage of 10.
B. shortage of 20.
C. shortage of 30.
D. surplus of 20.
The Fed sells German bonds to commercial banks. Which of the following best describes the impact on the Fed's and the Banking System's balance sheets resulting from this transaction?
A. The Fed's assets and liabilities do not change, only the compositions of the assets change. For the banking system, assets and liabilities increase. B. The Fed's assets increase and its liabilities both increase. For the banking system, the value of assets and liabilities do not change, only the composition of assets changes. C. The Fed's assets and liabilities both decrease. For the banking system, the value of assets and liabilities do not change, only the composition of assets changes. D. The Fed's assets and liabilities increase, the banking systems assets and liabilities decrease.