Multiple Choice
An expansionary gap is equal to
A) real GDP minus nominal GDP
B) nominal GDP minus real GDP
C) actual short-run output minus potential output
D) this period's nominal GDP minus last period's nominal GDP
E) this period's real GDP minus last period's real GDP
Correct Answer:
Verified
Correct Answer:
Verified
Q98: The main effect of a decrease in
Q99: Actual output falls below potential output<br>A)during a
Q100: Potential output depends on all of the
Q101: The potential level of output can be
Q102: The nominal wage represents<br>A)the quantity of goods
Q104: When the expected price level falls below
Q105: Exhibit 10-12 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 10-12
Q106: Exhibit 10-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 10-2
Q107: Exhibit 10-12 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 10-12
Q108: In the short run,the price level is