If New Zealand is operating at potential GDP,which of the following is true?
I.New Zealand only has frictional and structural unemployment.
Ii.There is no inflation in New Zealand.
Iii.New Zealand has positive net exports.
A) i,ii and iii
B) i only
C) i and ii
D) i and iii
E) ii only
Correct Answer:
Verified
Q15: Potential GDP is the level of
A)real GDP
Q16: At full employment,actual _ equals _.
A)nominal GDP;potential
Q17: The Lucas Wedge shows
A)the negative impact a
Q18: The Classical macroeconomic model proposes that
A)government intervention
Q19: The Monetarist model expands the Keynesian model
Q21: The sustainable upper limit of real GDP
Q22: The _ describes the relationship between the
Q23: Which of the following statement or statements
Q24: A country reports that its actual real
Q25: Over the business cycle,real GDP fluctuates around
A)the
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