How is it possible for the economy to have an inflationary gap?

a. Equilibrium is at a GDP level below full employment.
b. Equilibrium is at a GDP level equal to full employment.
c. Equilibrium is at a GDP level above full employment.
d. GDP is rising at full employment.
e. GDP is falling at full employment.


c

Economics

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Marginal revenue is defined as

a. the accumulated revenue associated with production b. ?TR/?Q c. the change in profit associated with another unit of output produced d. ?TC/?Q

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Of the following Asian countries, which has the lowest level of real GDP per person?

A) China B) Korea C) Singapore D) Hong Kong

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If a corporation goes bankrupt, bondholders have ________ on the firm's assets

A) second claim, after stockholders, B) no claim C) first claim D) third claim, after the IRS and stockholders,

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Which of the following are NOT liabilities on the Fed's balance sheet?

A) discount loans B) bank deposits C) deferred availability cash items D) U.S. Treasury deposits

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