How much is the output gap if short-run output is $18.0 trillion and potential output is $18.2 trillion?
What will be an ideal response?
+ $0.2 trillion.
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If the price of a soda was 15 cents in 1970, when the CPI was 50, and 50 cents in 2007, when the CPI was 172, then
A) the price of the soda was greater in real value in 1970 than in 2007. B) prices on average have increased 567 percent. C) the price of a soda has increased a greater percentage than the CPI. D) prices on average have increased 244 percent. E) the real price of a soda is the same in 1970 and 2007.
The argument that the government did not favor good trusts, but forbade all, is support for the __________ approach to antitrust
a. rule of reason b. countervailing power c. nationalization d. per se e. laissez-faire
Because it is generally difficult for economists to user experiments to generate data, what must they generally do?
a) do without data b) use whatever data the world gives them c) select a committee of economists to make up data for all economists to use d) use hypothetical, computer-generated data
Which of the following would encourage economic growth through increases in the capital stock?
A) an increase in the profitability of new investment due to technological change B) an increase in household saving C) a decrease in the government deficit D) all of the above