An inflationary output gap is defined to be when the current level of output is:
A. below full employment GDP.
B. above full employment GDP.
C. equivalent to full employment GDP.
D. high enough to cause an unexpected amount of inflation.
B. above full employment GDP.
Economics
You might also like to view...
Refer to the figure above. When the demand curve for flash drives is D and the supply curve of flash drives is S1, what is the surplus in the market if the price is $7?
A) 10 units B) 20 units C) 50 units D) 60 units
Economics
Diminishing marginal utility means that as more of a good is consumed
A) the rate at which total utility increases starts to diminish. B) the rate at which total utility increases stays the same. C) the rate at which total utility increases starts to increase. D) there is no impact on the rate of change of total utility.
Economics