During a business cycle recession,it is very likely that real GDP will
A) exceed nominal GDP.
B) be less than potential GDP.
C) equal nominal GDP but not equal potential GDP.
D) equal nominal GDP and equal potential GDP.
E) be greater than potential GDP.
Correct Answer:
Verified
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Q30: Which of the following is true?
A)Real GDP
Q31: Diminishing returns means that
A)each additional unit of
Q32: The production function displays
A)increasing returns.
B)real returns.
C)diminishing returns.
D)average
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Q36: The production function describes the relationship between
A)the
Q37: A country's potential GDP is determined,in part,by
A)the
Q38: The production function shows that potential GDP
Q39: At any given time,which factor of production
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