In a recessionary expenditure gap, the equilibrium level of real GDP is
A. greater than planned aggregate expenditures.
B. greater than full-employment real GDP.
C. less than planned aggregate expenditures.
D. less than full-employment real GDP.
Answer: D
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In the housing market, if a rent ceiling of $600.00 is imposed when the equilibrium rent is $500.00, why will nothing change?
What will be an ideal response?
In 2015, U.S. GDP was almost
a. $18 trillion. b. $15 trillion. c. $14 trillion. d. $12 trillion.
Of the following countries, which grew most slowly, in terms of real GDP per person, over about the last 120 years?
a. Brazil b. Mexico c. China d. United States
Holding other factors constant, if new technology becomes available that allows machines to produce manufactured goods more quickly and with fewer defects, then the real interest rate will ________ and the equilibrium quantity of national saving and investment will ________.
A. increase; not change B. decrease; increase C. increase; increase D. increase; decrease