The table below shows data for five economies of similar size.Real GDP is measured in billions of dollars.Assume that potential output for each economy is $340 billion.
TABLE 24-1
-Refer to Table 24-1.Which of the economies is operating at its long-run equilibrium?
A)Economy A
B)Economy B
C)Economy C
D)Economy D
E)Economy E

Question

The table below shows data for five economies of similar size.Real GDP is measured in billions of dollars.Assume that potential output for each economy is $340 billion.
  TABLE 24-1
-Refer to Table 24-1.Which of the economies is operating at its long-run equilibrium?
A)Economy A 
B)Economy B 
C)Economy C 
D)Economy D 
E)Economy E

Quizplus · Accepted Answer

Economy C is operating at its long-run equilibrium because its actual output is equal to its potential output.

The Table Below Shows Data for Five Economies of Similar