On a TE-TP diagram consider a level of Real GDP at which the vertical distance to the TE line exceeds the vertical distance to the 45-degree line. This level of Real GDP is __________ its equilibrium level, with __________
A) above; TE > TP
B) above; TE < TP
C) below; TE > TP
D) below; TE < TP
C
You might also like to view...
Indicators of economic activity that move at the same time as the overall economy are called ________ indicators.
A. short-term B. real C. long-term D. coincident
What are the reasons some people choose to be part-time workers?
What will be an ideal response?
Carlos receives a consumer surplus of $10 for the first glass of lemonade. For the second glass, he receives a consumer surplus of $8, and for the third glass, he receives a consumer surplus of $6 . His total consumer surplus from the three glasses of lemonade is _____
a. $10 b. $24 c. $14 d. $15
Which statement is true?
A. Americans had a higher rate of saving in the 1990s than in the 1980s B. In 2005, Americans savings rate actually turned negative C. Interest on home equity loans is not deductible on federal income tax returns D. None of these statements are true