If real GDP exceeds potential GDP, then employment is ________ full employment, and the unemployment rate is ________ the natural unemployment rate
A) equal to; below
B) above; below
C) equal to; equal to
D) below; above
E) above; above
B
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The supply of money must be great enough to meet ordinary transaction needs, ______
Fill in the blank(s) with the appropriate word(s).
Transfer payments are excluded from GDP
Indicate whether the statement is true or false
In the three-step method, what is accomplished in step 3?
a. finding the total revenue b. finding the total cost c. finding the market price d. finding the profit-maximizing output level
The aggregate production function is the mathematical representation of the technological relationship between
A. national output and fiscal policy. B. fiscal and monetary policy changes and national output. C. national output and inputs. D. the rate of capital accumulation and national output.