In the above figure, real GDP at full employment is
A) $16 trillion.
B) $16.5 trillion.
C) more than $16 and less than $16.5 trillion.
D) None of the above answers is correct.
A
Economics
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In an economy where firms in most industries are monopolistically competitive firms, individual firms in each industry would produce ________ products and have a ________ share of industry output
A) differentiated; large B) differentiated; small C) standardized; large D) standardized; small
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A decrease in real GDP causes
A) movement downward along a money demand schedule. B) movement upward along a money demand schedule. C) a rightward shift of the money demand schedule. D) a leftward shift of the money demand schedule.
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