The data in the above table show that when the price level is 120, the economy
A) is in a long-run macroeconomic equilibrium.
B) has an inflationary gap.
C) has a recessionary gap.
D) will have falling money wage rates sometime in the future.
C
Economics
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The amount earned by owners of the nation's factors of production is
A) total income. B) private and government transfer payments. C) the wages and fringe benefits received by the nation's workers. D) all profits received by businesses.
Economics
If a country were to experience an increase in its factors of production, its production possibilities frontier would shift outward
Indicate whether the statement is true or false
Economics