A recessionary gap develops:
a. when actual output exceeds potential output
b. when resource prices are "sticky" upward.
c. only when the economy is in recession.
d. only when GDP grows by more than 4 percent.
e. only when unemployment exceeds its natural rate.
e
Economics
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Water subsidies to irrigators
a. Tend to increase economic efficiency b. Tend to internalize externalities c. Tend to increase water prices d. Tend to increase the quantity of water used e. Tend to promote water conservation
Economics
If the quantity of nail polish supplied is represented by the equation QS = -3 + 2P then the corresponding price of nail polish is represented by the equation
A) P = 1.5 - 0.5QS. B) P = 2QS - 6. C) P = 2QS + 6. D) P = 0.5QS + 1.5.
Economics