If full employment GDP is $8 trillion and equilibrium GDP is $7 trillion
A) there is definitely an inflationary gap.
B) there is probably an inflationary gap.
C) there is definitely a recessionary gap.
D) there is probably a recessionary gap.
Correct Answer:
Verified
Q43: An illustration of the term "automatic stabilizer"
Q44: In the 20th century,our federal budget deficits
Q45: Which of the following would require reducing
Q46: The federal government deficit or surplus
A)is not
Q47: Statement I: If there were deflation,the national
Q49: The annual Social Security surplus has been
Q50: Even if the economy has considerable excess
Q51: Expansionary fiscal policy involves
A)a decrease in government
Q52: The public debt is the sum of
Q53: If the federal budget deficit were lowered,then
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents