At full employment,actual ________ equals ________.
A) nominal GDP;potential GDP
B) real GDP;potential GDP
C) real GDP;nominal GDP
D) potential GDP;nominal GDP
E) unemployment;zero
Correct Answer:
Verified
Q11: Potential GDP is
A)equal to the maximum amount
Q12: Potential GDP
A)is the same as real GDP.
B)is
Q13: The level of real GDP the economy
Q14: Suppose that Australia has fully employed all
Q15: Potential GDP is the level of
A)real GDP
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
Q20: If New Zealand is operating at potential
Q21: The sustainable upper limit of real GDP
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