Full-employment GDP is also known as
A) balanced-budget GDP. B) politico-economic GDP.
C) potential GDP. D) realized GDP.
C
Economics
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Assume that a painter produces 20 paintings this year and 20 paintings next year. What is the annual change in nominal GPD if the price of paintings rises from $1,000 this year to $1,500 next year? Can you conclude that the economy grew from this year
to next year based on your answer? Why? What will be an ideal response?
Economics
Purchasing power parity theory is a better guide to short-run movements in exchange rates than to long-run movements in exchange rates.
Answer the following statement true (T) or false (F)
Economics