Suppose the average price of gasoline in the United States rose from $3 per gallon to $4 per gallon. Accompanying the increase in gas prices was a decrease in new automobile sales
Other things equal, if this trend continues, real GDP would likely ________ and the output gap would become ________. A) rise; more negative
B) rise; less negative
C) fall; more negative
D) fall; less negative
C
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Which of the following best describes aggregate expenditure?
a. C + I + G + (X ? M) b. C + S + G + (X ? M) c. C + I + G + (X + M) d. C + I + T + (X ? M) e. C + I + T + (X + M)
Two of the most important macroeconomic issues are unemployment and inflation
a. True b. False Indicate whether the statement is true or false
A monopoly is allocatively efficient compared to perfect competition
Indicate whether the statement is true or false
In February 2013, the supply of money (M1) in the United States was about:
A. $1,112 billion. B. $2,472 billion. C. $1,359 billion. D. $10,412 billion.