Multiple Choice
During the recessions of the early 1980s and 1990s:
A) Canada's actual real GDP was greater than potential GDP.
B) Canada's actual real GDP and potential GDP were equal.
C) Canada's actual real GDP was less than potential GDP.
D) Canada's potential GDP declined, while actual GDP increased.
Correct Answer:
Verified
Related Questions
Q35: The potential output line is:
A) vertical because
Q36: The potential output line shows:
A) the maximum
Q37: Potential output changes only when:
A) the price
Q38: The potential output line is vertical:
A) because
Q39: Which of the following statements is true?
A)
Q41: A recessionary gap refers to the:
A) amount
Q42: If the economy suffers from a recessionary
