Something whose value does not change is a:
A) variable.
B) constant.
C) hypothesis.
D) all of the above.
Ans: B) constant.
Economics
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During a business cycle recession, it is very likely that real GDP will
A) be greater than potential GDP. B) be less than potential GDP. C) equal nominal GDP and equal potential GDP. D) exceed nominal GDP. E) equal nominal GDP but not equal potential GDP.
Economics
Explain the combined effects of these events on U.S. real GDP and the price level, starting from a position of long-run equilibrium
What will be an ideal response?
Economics