At full employment, actual ________ equals ________
A) real GDP; potential GDP
B) real GDP; nominal GDP
C) unemployment; zero
D) potential GDP; nominal GDP
E) nominal GDP; potential GDP
A
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When Trina can afford bundles A and B but not C, she purchases bundle A. When Trina can afford bundles A and C, but not B, she purchases bundle C
We can conclude her preference ordering of the three bundles is (in order from most preferred to least) A) C, A, B. B) B, A, C. C) A, C, B. D) A, B, C.
A price floor will be binding only if it is set a. equal to the equilibrium price
b. above the equilibrium price. c. below the equilibrium price. d. either above or below the equilibrium price.
An increase in the money supply tends to reduce investment.
a. true b. false
The nation as a whole is better off from trade as long as the gains from the winners exceed the losses from the losers
Indicate whether the statement is true or false