The output gap is zero when
A) Actual real GDP > Natural real GDP.
B) Actual real GDP = Natural real GDP.
C) Actual real GDP < Natural real GDP.
D) Natural real GDP = 0.
B
Economics
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Which of the three product has a unitary elastic demand curve?
a. Cigarettes b. Alcohol c. Sodas d. None of the above
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Suppose the market price of a good X is below the equilibrium price. The result is a shortage and sellers can be expected to decrease the quantity of that good X supplied
a. True b. False Indicate whether the statement is true or false
Economics