Multiple Choice
An expansionary gap is equal to _____
A) real GDP minus nominal GDP.
B) nominal GDP minus real GDP.
C) the actual short-run output minus potential output.
D) the actual price level minus the expected price level.
E) the actual long-run real GDP minus the actual short-run disposable income.
Correct Answer:

Verified
Correct Answer:
Verified
Q19: The actual price level is assumed to
Q37: An expansionary gap in the short-run results
Q63: Suppose the actual and expected price levels
Q65: A temporary adverse supply shock, such as
Q67: A temporary adverse supply shock, such as
Q70: Table 10.2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1006/.jpg" alt="Table 10.2
Q71: Which of the following is true about
Q72: A beneficial supply shock such as a
Q120: Floods in the Midwest that diminish farm
Q132: Which of the following is true of