The goal of maximum sustainable employment is roughly equivalent to achieving ________
A) the natural rate of unemployment
B) an inflation target that is slightly above zero
C) the elimination of frictional and structural unemployment
D) all of the above
E) none of the above
A
Economics
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A fiscal stimulus works to close a recessionary gap by shifting the
A) AD curve leftward. B) AS curve leftward. C) AD curve leftward and AS curve leftward. D) AD curve rightward. E) potential GDP line leftward.
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The table above gives data for the nation of Pearl, a small island in the South Pacific. If a supply shock decreases the quantity of real GDP supplied by $6 billion at each price level, the new equilibrium real GDP is
A) $16 billion. B) $19 billion. C) $22 billion. D) $23 billion. E) $17 billion.
Economics