When the unemployment rate is greater than the natural unemployment rate, real GDP is
A) greater than full employment GDP.
B) less than potential GDP.
C) equal to potential GDP.
D) greater than potential GDP.
E) unrelated to potential GDP.
B
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Traditionally, Wall Street investment banks had been organized as ________, but by 2000 they had converted to being ________
A) sole proprietorships; partnerships B) partnerships; sole proprietorships C) corporations; partnerships D) partnerships; publicly-traded companies
Which of the following functions of money enables society to gain the benefits of geographic and labor specialization?
A. Unit of account B. Store of value C. Medium of exchange D. Medium of deferred payment
In an inflationary expenditure gap, the equilibrium level of real GDP is
A. equal to full-employment real GDP. B. greater than full-employment real GDP. C. greater than planned investment. D. less than full-employment real GDP.
A risky small business stands the best chance of finding external financing from
A) a commercial finance company. B) a commercial bank. C) an investment bank. D) trade credit.