If Real GDP is greater than Natural Real GDP, the economy is in a(n)
A) frictional gap.
B) structural gap.
C) recessionary gap.
D) inflationary gap.
D
You might also like to view...
The opportunity cost of going to a particular college is not the same for everyone
Indicate whether the statement is true or false
The longest term security sold by the US is the:
A. Treasury bonds. B. Treasury notes. C. certificate of deposit. D. Treasury bills.
Suppose the United States can produce 2,000 cars or 2,000 trucks. Japan can produce either 2,000 cars or 1,000 trucks. In terms of car production, we can conclude that
A. The United States has a comparative advantage. B. The United States has an absolute advantage. C. Japan has an absolute advantage. D. Japan has a comparative advantage.
Which of the following transactions would be included in the U.S. balance of payments?
a. A U.S. resident buys a bus ticket from Dallas to El Paso, Texas. b. U.S. manufacturers sell thousands of cars to Canadian buyers. c. A U.S. resident pays a fee to obtain a passport to travel abroad. d. Canadian oil companies pay a Dutch firm to design an oil pipeline.