A country's potential GDP is determined, in part, by
A) the equilibrium price level.
B) demand and supply in the labor market.
C) the Lucas wedge.
D) actual real GDP.
E) the Okun gap.
Correct Answer:
Verified
Q16: At full employment,actual _ equals _.
A)nominal GDP;potential
Q23: Which of the following statement or statements
Q24: A country reports that its actual real
Q28: Choose which statement is most correct.
A)Real GDP
Q30: Over the business cycle, real GDP fluctuates
Q32: Which of the following is true?
A) Real
Q32: The production function displays
A)increasing returns.
B)real returns.
C)diminishing returns.
D)average
Q33: To determine GDP from the production function,we
Q34: During a business cycle recession,it is very
Q38: The production function shows that potential GDP
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