The full-employment level of real GDP is the level which can be produced with:
A. given technology and productive resources.
B. frictional and structural unemployment equal to zero.
C. cyclical unemployment greater than zero.
D. future technology.
Answer: A
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When the demand for money depends only on real income, the resulting ________ LM curve causes fiscal policy to have a ________ effect on income
A) vertical, very strong B) vertical, zero C) horizontal, very strong D) horizontal, zero
Why does the elasticity of demand for a commodity change over time?
The order of Soviet dictator Joseph Stalin to farmers in the 1930s to produce capital equipment rather than food
a. was based on government support payments for agriculture. b. relied on foreign assistance. c. was an illustration of the capital formation method. d. was an illustration of the brute force method of breaking the poverty cycle, and it was a very successful policy. e. was an illustration of the brute force method of breaking the poverty cycle, and it meant starvation for millions of farmers.
A change in demand is said to take place when there is a
A) shift of the demand curve. B) shift of the supply curve. C) price change. D) movement along the demand curve. E) quantity change.