The output gap of zero indicates that
A) nominal GDP is equal to Real GDP.
B) GDP is equal to GNP.
C) the balance between unemployment and inflation has been reached.
D) actual real GDP is equal to natural real GDP.
D
You might also like to view...
Average cost
A. is always larger than marginal cost. B. declines for some range of output, hits a minimum, and then increases. C. is always smaller than marginal cost. D. is total cost/price of the product.
Explain the difference between cardinal and ordinal utility. Which is better to use when modeling consumer behavior and why?
Please provide the best answer for the statement.
The above figure presents the view of the economy according to
A. Ricardian economics. B. Keynesian economics. C. microanalysis. D. classical economics.
Wealth
A) is the same as income. B) includes assets such as houses, stocks, and bonds. C) does not include tangible objects. D) is a flow and not a stock.