(Last Word) Art Buchwald's article "Squaring the Economic Circle" is a humorous description of:
A. a negative GDP gap.
B. a positive GDP gap.
C. the marginal propensity to save.
D. the multiplier.
D. the multiplier.
Economics
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The above figures show the market for gasoline. Which figure shows the effect of an increased preference for cars that are smaller and more fuel efficient?
A) Figure A B) Figure B C) Figure C D) Figure D
Economics
In Macroland potential GDP equals $20 billion and real GDP equals $19.2 billion. Macroland has a(n) ________ gap equal to ________ percent of potential GDP.
A. expansionary; 4 B. expansionary; 8 C. recessionary; ?8 D. recessionary; ?4
Economics