Which of these is likely to be observed in an economy in which the equilibrium level of real GDP is below potential GDP?

According to the text, what is the major long-run issue facing the European Union?

What will be an ideal response?

In order for society to have a rising standard of living, output must grow: a. at a slower rate than the labor force. b. at the same rate as the population. c. faster than the population

d. at a slower rate than the population. e. at a slower rate than infrastructure.