What is potential GDP?
A) It is the level of real GDP in the short run.
B) It is the difference between current GDP and maximum GDP.
C) It is the level of GDP at which inflation is constant.
D) It is the level of real GDP in the long run.
D
Economics
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In the IS-LM model, we can be at natural real GDP with a low interest rate given the combination of ________ fiscal policy and ________ monetary policy
A) tight, tight B) tight, easy C) easy, tight D) easy, easy
Economics
Suppose an economist found that total revenues increase for the bus system when fares were raised, the conclusion is that the price elasticity demand for subway services over the range of fare increase is inelastic
a. True b. False Indicate whether the statement is true or false
Economics