If short-run equilibrium output equals 50,000 and potential output (Y*) equals 45,000, then this economy has a(n) ________ gap that can be closed by ________.

Sharisse brags to her mother that her starting salary as a management trainee is $36,000, much higher than her mother's starting salary of $21,000 as a management trainee several years ago

If the CPI the year Sharisse begins work is 181.2 and the CPI the year her mother started work was 109.1, Sharisse is A) wrong. Adjusting for price changes, her salary is less than her mother's salary. B) correct. Adjusting for quantity changes, her salary is more than her mother's salary. C) correct. Adjusting for price changes, her salary is more than her mother's salary. D) wrong. Adjusting for quantity changes, her salary is less than her mother's salary. E) maybe wrong and maybe right. Adjusting for quantity changes, her salary is less than her mother's salary but with the information given we are unable to further adjust for price changes.

Encouraging international trade will

A) slow economic growth as many workers lose their jobs to foreign workers. B) speed economic growth as workers specialize and trade with others. C) speed economic growth because international trade limits the harm done by property rights. D) slow economic growth when a country is forced to specialize and trade with other countries. E) speed economic growth as workers diversify their knowledge and limit trade.