Multiple Choice
In 2009, actual output in the United States was 4.6 percent below the potential output. This implies that _____
A) unemployment in the United States was below its natural rate.
B) the poverty level in the United States was below average.
C) there was a recessionary gap in the economy.
D) there was an expansionary gap in the economy.
E) there was an excess demand in the economy.
Correct Answer:
Verified
Correct Answer:
Verified
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