When there is an inflationary gap, (actual) Real GDP is __________ Natural Real GDP, and the (actual) unemployment rate is __________ the natural unemployment rate
A) greater than; less than
B) greater than; greater than
C) less than; greater than
D) less than; less than
E) less than; equal to
A
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The vertical intercept of the consumption function equals ________ and the slope equals ________.
A. autonomous consumption; the MPC. B. the planned component of consumption; the unplanned component of consumption. C. the unplanned component of consumption; the planned component of consumption. D. the MPC; autonomous consumption.
The ________ determines the supply of money
A) Federal Reserve B) banking system C) President D) Congress
Refer to Figure 24-2. Ceteris paribus, a decrease in productivity would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Use the above table. If the level of production was determined by the market, it would be
A) 4. B) 5. C) 6. D) 7.