If real GDP is ________ than potential GDP, employment is ________ than its full-employment level and the unemployment rate rises ________ the natural unemployment rate
A) less; more; above
B) more; more; above
C) more; less; above
D) less; less; below
E) less; less; above
E
Economics
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To derive the external balance relationship under high capital mobility and floating exchange rates, an increase in government spending must be followed by
A) an increase in money stock to restore the balance of payments equilibrium. B) a decrease in money stock to restore the balance of payments equilibrium. C) a depreciation of the currency to restore the balance of payment equilibrium. D) a decrease in investment spending to restore the balance of payments equilibrium.
Economics
Firms in perfect competition are often described as price
A. takers. B. makers. C. setters. D. leaders.
Economics