Which of the following allows an economist to conclude that the welfare or happiness of society as a whole is clearly increasing?
A) A decrease in nominal GDP
B) A decrease in real GDP
C) An increase in nominal GDP
D) An increase in real GDP
E) None of the above.
D
Economics
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When real GDP exceeds potential GDP, then the economy has
A) an inflationary gap. B) a below-full-employment equilibrium. C) a recessionary gap. D) None of the above answers are correct.
Economics
A continuing increase in the growth of the money supply is likely followed by
A) a recession. B) a depression. C) an increase in the price level. D) no change in the economy.
Economics