If potential output for an economy equals $5 billion, and actual output equals $4.5 billion, then this economy has a(n):

A. trade deficit.
B. expansionary gap.
C. budget deficit.
D. recessionary gap.

Answer: D

Economics

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The above figure shows the costs at Barney's Bagel Bakery. Up to which level of output will increasing marginal returns in production be experienced at Barney's Bagel Bakery?

A) up to 500 bagels B) up to 2000 bagels C) up to 3000 bagels D) up to 3500 bagels

Economics

The Bureau of Labor Statistics defines a person as unemployed if he or she does not:

a. work full time. b. have a job but is actively seeking one. c. earn a wage above the minimum wage rate. d. earn enough income to be above the poverty level. e. work as much as he or she desires.

Economics