A recessionary gap exists when
a. real GDP exceeds nominal GDP.
b. nominal GDP exceeds real GDP.
c. real GDP exceeds potential GDP.
d. potential GDP exceeds real GDP.
d
Economics
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Use the above table. Assuming constant opportunity costs, a comparative advantage in producing wine is possessed by
A) neither Argentina or France. B) both Argentina and France. C) Argentina. D) France.
Economics
Protection is rarely withdrawn from infant industries because such firms are necessary to ensure creation of domestic jobs
a. True b. False Indicate whether the statement is true or false
Economics