Potential GDP is the level of
A) real GDP that the economy would produce if it was at full employment.
B) nominal GDP that the economy would produce if it was at full employment.
C) real GDP that the economy would produce if there was no inflation.
D) nominal GDP that the economy would produce if there was no inflation.
E) real GDP that the economy would produce if there was no unemployment.
A
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"Trust busting," including the prosecution of the American Tobacco Company and Standard Oil, was a high priority of _________'s administration
a. Franklin Roosevelt b. Ulysses S. Grant c. James Garfield d. Theodore Roosevelt
In the short run, a surplus federal budget _____
a. reduces national saving b. boosts domestic saving c. stimulates aggregate demand d. promotes economic growth in the long run e. increases the federal debt