Figure 10-4
-A recessionary gap exists when
A) real GDP exceeds nominal GDP.
B) nominal GDP exceeds real GDP.
C) real GDP exceeds potential GDP.
D) potential GDP exceeds real GDP.
Correct Answer:
Verified
Q141: An inflationary gap will exist when
A)aggregate demand
Q142: A recession can be expected to reduce
Q143: Figure 10-4 Q144: Most economists agree that the economy will Q145: An equilibrium point beyond a potential GDP Q147: One complication in the process of reducing Q148: One complication that tends to prolong recessionary Q149: When money wages rise, the most significant Q150: The post-World War II record shows that Q151: Many economists describe the 2007-2009 period in
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