Negative output gap indicates that
A) the actual real GDP is above natural real GDP.
B) the actual real GDP is below natural real GDP.
C) nominal GDP is above real GDP.
D) nominal GDP is below real GDP.
B
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The Federal Trade Commission is an agency charged with
A) regulating interstate commerce. B) enforcing product safety laws. C) regulating international commerce. D) enforcing antitrust laws.
Price elasticity of supply refers to the
a. change in supply that results from a change in demand b. percentage change in supply generated by a percentage change in demand c. change in price that results from a change in supply d. percentage change in price generated by a percentage change in supply e. percentage change in supply generated by a percentage change in price
Which of the following results from a change in the business cycle, ceteris paribus?
A. Structural unemployment. B. Cyclical unemployment. C. Structural deficit. D. Frictional unemployment.
Which of the following did not contribute to the law of diminishing control?
A. Regulations covered fewer financial instruments B. New financial institutions and instruments C. New monetary policy tools D. Political pressure to reduce regulations