Which of the following happens during an economic recession?
a. At E1, RGDP is below potential GDP.
b. At E1, RGDP is above potential GDP.
c. At E1, RGDP is equal to potential GDP.
d. At E1, RGDP fluctuates with potential GDP.
a. At E1, RGDP is below potential GDP.
Economics
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Inflation is defined as an increase in:
a. real wages of workers. b. real GDP. c. the average price level. d. all consumer products.
Economics
With respect to the dollar, a decrease in the number of dollars needed to purchase one unit of foreign exchange in a flexible exchange system is called currency appreciation
Indicate whether the statement is true or false
Economics