A recessionary gap:
a. is of little consequence in a capitalist economy.
b. represents actual physical output lost.
c. implies an equilibrium level of output less than the full-employment level.
d. is associated with rising labor prices.
e. will automatically close, according to the Keynesian model.
c
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What is a primary difference between rebates and coupons?
A) Coupons allow individuals to sort themselves into the high-elasticity group after the sale. B) Neither coupons nor rebates are redeemed in high numbers. C) Rebates allow individuals to sort themselves into the high-elasticity group after the sale. D) Coupons are legal and rebates are illegal.
Antitrust legislation is an attempt by government to make competition
A) equal. B) efficient. C) structured. D) fair.