If the monopoly illustrated in the figure above could engage in perfect price discrimination, the deadweight loss would be

The equilibrium GDP for the open economy is:

Answer the question on the basis of the following information for a private open economy. The letters Y, C, I g , X, and M stand for GDP, consumption, gross investment, exports, and imports respectively. Figures are in billions of dollars.

A.  $390.
B.  $375.
C.  $320.
D.  $400.

A recession occurs when ________, when ________, or when both of these occur.

A. potential output grows rapidly; actual output equals potential output B. potential output grows rapidly; actual output falls below potential output C. potential output grows slowly; actual output rises above potential output D. potential output grows slowly; actual output falls below potential output