In the late 1990s, it was likely that:
A) the GDP gap was almost zero
B) actual GDP grew more slowly than it had in the previous 20 years
C) the GDP gap was larger than it had been in the previous 20 years
D) potential GDP grew faster than it had in the previous 20 years
E) None of these answers are correct.
Correct Answer:
Verified
Q1: In the short run:
A) inflation has inertia.
B)
Q3: In the long run, the unemployment rate
Q6: Which of the following has NOT contributed
Q7: The accurate calculation of potential output is
Q8: In the short run, tight monetary policy
Q13: The credibility of the central bank:
A) promotes
Q16: According to the principle of transition dynamics,
Q18: Standards of living in the long run
Q18: When the government has a deficit, it
Q19: In the long run, real GDP is
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