When equilibrium GDP is below potential GDP, jobs are
a. plentiful and unemployment is low.
b. plentiful and unemployment is high.
c. scarce and unemployment is high.
d. scarce and unemployment is low.
c
You might also like to view...
One of the reasons that concentration ratios are not a perfect measure of competitiveness is that they
A) do not measure how high the industry's prices are. B) cannot be measured. C) ignore potential competition. D) tell nothing about how high prices were in the past.
Which of the following counts as part of the supply of loanable funds?
a. bank deposits and purchases of bonds b. bank deposits but not purchases of bonds c. purchases of bonds but not bank deposits d. neither purchases of bonds nor bank deposits
The ability to control a scarce resource or input is a characteristic of perfect competition.
Answer the following statement true (T) or false (F)
The sacrifice ratio of the Volcker disinflation was larger than previous estimates had predicted
a. True b. False Indicate whether the statement is true or false