The more the short-run output exceeds an economy's potential, _____
a. the smaller the expansionary gap
b. the greater the upward pressure on the price level
c. the larger the recessionary gap
d. the greater the downward pressure on the price level
e. the lesser the demand for resources
b
Economics
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Human capital is the equipment and machinery used directly by workers
a. True b. False
Economics
Historical data on prices and quantities sold do not provide the basis for drawing an accurate demand curve because
a. reporters who gather these data are often wrong. b. factors other than price may change over time. c. they do not include measures of price close to the quantity axis. d. they sometimes tend to be clustered around one point.
Economics