Multiple Choice
An above full-employment equilibrium occurs when
A) the equilibrium level of real GDP is greater than potential GDP.
B) the equilibrium level of real GDP is less than potential GDP.
C) short-run aggregate supply decreases while neither aggregate demand nor long -run aggregate supply changes.
D) aggregate demand decreases while neither the short-run nor long-run aggregate supply changes.
Correct Answer:
Verified
Correct Answer:
Verified
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