A recessionary gap is the amount by which
A. total planned real expenditures exceed total planned production in the long run.
B. the short-run equilibrium level of real GDP is below the full-employment level of real GDP.
C. the short-run equilibrium level nominal GDP is above the short-run real GDP.
D. the short-run equilibrium level nominal GDP is below the short-run real GDP.
Answer: B
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In the above figure, which part corresponds to an increase in the money wage rate?
A) Figure A B) Figure B C) Figure C D) Figure D
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A) less; less B) less; greater C) greater; less D) greater; greater
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a. Sherman Antitrust Act. b. Celler-Kefauver Act. c. FTC Act. d. Robinson-Patman Act. e. Clayton Act.
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