The long-run aggregate supply curve shows the
A) maximum GDP the nation will ever produce.
B) full-employment level of real GDP.
C) level of real GDP associated with a constant price level.
D) level of output at which real GDP equals nominal GDP.
B
Economics
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To make the calculation of real GDP more accurate, in 1996 the BEA switched to using
A) base-year prices. B) chain-weighted prices. C) current prices. D) market prices.
Economics
In a simultaneous move, incomplete information game in which player 1 is unsure of which of two types player 2 is, player 1's strategy must include an action for each possible type that player 2 might be, but player 2 only needs to pick one action since he knows what type he is.
Answer the following statement true (T) or false (F)
Economics