The GDP gap measures the difference between:
A. NDP and GDP.
B. NI and PI.
C. actual GDP and potential GDP.
D. nominal GDP and real GDP.
C. actual GDP and potential GDP.
You might also like to view...
Use the following figure to answer the question below.
Jorge's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/4 B. 4 C. 2 D. 1
Which of the following is the best example of a private, unregulated monopoly or near-monopoly is:
A. the local post office. B. the local electric company. C. a professional sports team. D. the only large employer in a small town.
Suppose the price of beef fell dramatically as the price of feed grain decreased. Use the income effect and the substitution effect to explain why there was an increase in the quantity of beef purchased
Please provide the best answer for the statement.
Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18. The market is initially in equilibrium at Point B. If demand shifts from D2 to D1 and there is an excess supply of 200 million pounds of burritos, the price of burritos would be
A. $1.50. B. $3.00. C. $4.00. D. $6.00.