-Refer to Exhibit 10-1.At all points on the 45-degree line, A) TP = Real GDP. B) TP Real GDP. C) TP

Name: -Refer to Exhibit 10-1.At all points on the 45-degree line, A) TP = Real GDP. B) TP > Real GDP. C) TP < Real GDP. D) all of the above are possible.
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Question

-Refer to Exhibit 10-1.At all points on the 45-degree line,
A) TP = Real GDP. 
B) TP > Real GDP. 
C) TP < Real GDP. 
D) all of the above are possible.

Quizplus · Accepted Answer

The 45-degree line on a graph represents the points where total production (TP) equals real GDP, indicating where the value of goods and services produced is equal to the value of goods and services consumed.