Saving in the economy:
A.
Occurs when current spending is less than current incomes
B.
Is generally not a determinant of future output
C.
And investment are essentially the same concept
D.
Occurs when current consumption is more than current output
A.
Occurs when current spending is less than current incomes
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Among developed countries, the United States has
A) one of the lower Gini coefficients. B) one of the higher Gini coefficients. C) the most unequal distribution of income. D) an income distribution right about at the median of those countries.
The idea that potential GDP is the sustainable upper limit of production means that
A) real GDP may be temporarily larger than potential GDP, but not permanently. B) the economy is operating environmentally efficiently. C) real GDP may be temporarily less than potential GDP. D) inflation must always occur in a growing economy. E) unemployment can only temporarily be zero in a healthy economy.