If the quantity of real GDP supplied equals the quantity of real GDP demanded, then
A) nominal GDP must equal real GDP.
B) real GDP must equal potential GDP.
C) real GDP must be greater than potential GDP.
D) real GDP might be greater than, equal to, or less than potential GDP.
E) real GDP must be less than potential GDP.
D
You might also like to view...
Federal tax loopholes in personal income tax provide benefits only to very high-income people
a. True b. False Indicate whether the statement is true or false
As shown in Exhibit 3, ______ has ______ in producing both cloth and food.
a. Calvin; an absolute advantage
b. Calvin; a comparative advantage
c. Wendy; an absolute advantage
d. Wendy; a comparative advantage
"Player drafts" of professional athletes:
A. increase the competitiveness of the labor market for professional athletes. B. reduce the profitability of professional sports franchises. C. promote monopsony in the hire of professional athletes. D. increase salaries of professional athletes.
Refer to the information provided in Figure 4.3 below to answer the question(s) that follow.
Figure 4.3Refer to Figure 4.3. At an effective price ceiling for pencils,
A. quantity demanded is greater than quantity supplied. B. quantity demanded is equal to quantity supplied. C. quantity demanded is less than quantity supplied. D. price is above equilibrium.