Refer to the information provided in Figure 26.7 below to answer the question(s) that follow.
Figure 26.7Refer to Figure 26.7. Potential output
A. is $400 million.
B. is $700 million.
C. is $800 million.
D. cannot be determined from this information because aggregate demand is not given.
Answer: B
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Which of the following is NOT true of adverse selection?
A) It would not exist in a world of perfect information. B) It arises because borrowers typically know more than lenders. C) It describes a lender's problem of distinguishing the good-risk applicants from the bad-risk applicants. D) It describes a lender's problem in verifying borrowers are using their funds as intended.
As the real wage increases, the opportunity cost of working outside the home increases
a. True b. False
Which of the following countries has higher income mobility than the United States?
A. Canada B. France C. Denmark D. All of these countries have higher income mobility than the United States.
Based on the table showing income inequality in the United States, the proportion of income earned by the highest fifth and the highest 5% of Americans were both greatest in ______.
a. 1935
b. 1950
c. 1960
d. 1970