An inflationary gap exists when:
A. output exceeds aggregate demand.
B. aggregate demand exceeds output.
C. potential output exceeds actual output.
D. actual output exceeds potential output.
Answer: D
Economics
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Cross elasticity is higher the more perfect two goods are as substitutes
Indicate whether the statement is true or false
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If you owned a small farm, which of the following would most likely be a fixed cost?
A. Harvest labor. B. Hail insurance. C. Fertilizer. D. Seed.
Economics
In the expansion phase of the business cycle:
What will be an ideal response?
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