If the GDP gap is positive, then:
A. The inflation rate is falling
B. The unemployment rate is rising
C. Potential GDP is greater than actual GDP
D. Actual GDP is greater than potential GDP
D. Actual GDP is greater than potential GDP
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________ is an industry with a single firm in which the entry of new firms is blocked.
A. An oligopoly B. A monopoly C. Monopolistic competition D. Perfect competition
If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then
A) the cloth exporter will increase the quantity of cloth produced. B) the cloth exporter will increase the quantity of cloth exported. C) the food exporter will increase the quantity of food exported. D) the cloth exporter will decrease the quantity of cloth exported. E) the country would import more cloth.