When the economy produces less than its potential output, it is:
A. called a recession.
B. not in long-run equilibrium.
C. producing a quantity less than the long-run aggregate supply quantity.
D. All of these are true.
D. All of these are true.
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In the United States in 2012, the number of new, diagnosed diabetes cases was highest for people in the age range of ________, and the rate of new diabetes cases per 1,000 people was highest for people in the age range of ________
A) 65 and older; 20-44 B) 45-64; 45 - 64 C) 45-64; 65 and older D) 20-44; 45-64
Which of the following statements is likely to be made by an economist who does not believe in activist monetary policy? (1 ) The more closely monetary policy can he designed to meet the particulars of a given economic environment, the better. (2 ) Because of long and uncertain time lags, activist monetary policy may be destabilizing rather than stabilizing. (3 ) There is sufficient flexibility
in wages and prices in modern economies to allow the economy to equilibrate in reasonable speed at the natural level of Real GDP, (4 ) The "same-for-all-seasons" monetary policy is the way to proceed. (5 ) There is evidence that monetary policy in the mid-1970s caused a recession. A) (1), (2), and (3) B) (1), (4), and (5) C) (2), (3), and (4) D) (3), (4), and (5) E) (1 ) only