Which of the following economies is experiencing an economic boom?
a. The U.S. actual real GDP is the same as the nation’s potential real output.
b. The actual real GDP in Mexico is lower than the potential real GDP.
c. The French actual real GDP is less than the potential real output.
d. The actual real GDP in Canada is greater than the potential real GDP.
d. The actual real GDP in Canada is greater than the potential real GDP.
You might also like to view...
Jim is planning on attending a football game. He spent $40 on the ticket. He will have to take the day off losing 8 hours of work. His hourly wage is $10 . He estimates it will cost him around $20 for gas and parking at the game. Jim's total economic cost of attending the game equals
a. $80 b. $40 c. $60 d. $140
Which of the following is most consistent with the basic postulate of economics: changes in incentives exert a predictable impact on human behavior?
What will be an ideal response?
Give an example that shows how inefficiency relates to product differentiation for a monopolistically competitive industry.
What will be an ideal response?
Which of the following policy actions by the Fed is likely to cause the money supply to decrease?
A. An open market purchase B. A decrease in required reserve ratios C. A decrease in the discount rate D. An open market sale