Suppose that Australia has fully employed all of its resources. This situation means that Australia
A) is experiencing zero unemployment.
B) has a positive Lucas Wedge.
C) has a negative Okun Ga
D) is operating at its potential GDP
D
Economics
You might also like to view...
The slope of the AE curve is .80. What is the expenditure multiplier? Everything else the same, by how much does equilibrium aggregate expenditure increase if
a. exports increase from $1.75 trillion to $2.25 trillion? b. government expenditure on goods and services decrease from $2.0 trillion to $1.8 trillion? c. investment increases from $1.2 trillion to $2.3 trillion?
Economics
Any dominant equilibrium implies:
a. a sequential game b. instability c. a price-taking equilibrium d. a Nash equilibrium
Economics