Economic growth is an increase in real GDP per capita.

Refer to Table 27-3. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy

If Congress and the president use fiscal policy successfully to keep real GDP at its potential level in 2017, which of the following will be higher than if Congress and the president had taken no action? A) real GDP and the unemployment rate B) potential GDP and the inflation rate C) real GDP and the inflation rate D) real GDP and potential GDP

If the supply of labor to a monopsonist is everywhere unit elastic, then the wage will equal

A) the marginal expenditure. B) one-half of the marginal expenditure. C) the marginal revenue product of labor. D) one.