The fact that nominal GDP has risen faster than real GDP:
A. suggests that the base year of the GDP price index has been shifted.
B. tells us nothing about what has happened to the price level.
C. suggests that the general price level has fallen.
D. suggests that the general price level has risen.
D. suggests that the general price level has risen.
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A recessionary gap
a. is of little consequence in a capitalist economy b. represents actual physical output lost c. implies an equilibrium level of national income at less than full employment d. is associated with rising price levels e. will automatically close, according to Keynes
The American Recovery and Reinvestment Act of 2009 was introduced in the hope of:
A. reducing government spending. B. achieving a balanced budget. C. providing healthcare to the uninsured. D. shortening the Great Recession.