A recessionary gap exists if (actual) Real GDP is __________ Natural Real GDP
A) less than
B) greater than
C) equal to
D) b and c
E) none of the above
A
Economics
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The supply of labor curve is
A) vertical at potential GDP. B) upward sloping. C) downward sloping. D) horizontal at the equilibrium wage rate.
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Explain the process of logrolling
What will be an ideal response?
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At $30 each, Jack will buy 1 Blu-ray and at $25, he will purchase 2 . If the price is $25, Jack's consumer surplus is: a. $5
b. $10. c. $15. d. $20.
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In which system are decisions made by thousands of people who have information about resources, production technology and consumer desires?
A. market system B. socialist system C. centrally planned system D. command system
Economics