Homework Answers
Answer : The answer is option D.
In case of expansionary phase of business cycle if the economy return to full employment then it is shown by a movement from inside of PPF to a point which lies on PPF. So, except option D all options are not true. Therefore, option D is correct.
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choose the correct statement real gdp grows at a smoother rate
than potential gdp grow
Choose...
FEE If real GDP is greater than potential GDP, the economy is O A. in a...
FEE If real GDP is greater than potential GDP, the economy is O A. in a below full - employment equilibrium. OB. in a long-run equilibrium. O C. not in a short - run macroeconomic equilibrium. OD. in a recessionary equilibrium. O E. in an above full - employment equilibrium. 7:30
Choose which statement is most correct. A) Real GDP can never exceed potential GDP. B) Real...
Choose which statement is most correct. A) Real GDP can never exceed potential GDP. B) Real GDP must always equal potential GDP. C) At times, real GDP can exceed potential GDP. D) Nominal GDP can never exceed potential GDP. E) Nominal GDP must always equal potential GDP.
Choose the statement about the Lucas wedge that is correct. est O A. The Lucas wedge...
Choose the statement about the Lucas wedge that is correct. est O A. The Lucas wedge in 2016 is smaller than the Lucas wedge in 2000, OB. The Lucas wedge equals real GDP minus potential GDP. OC. The Lucas wedge accumulated to $790,000 per person by 2016 OD. The Lucas wedge is the dollar value of the accumulated gap between what real GDP per person would have been if the 1970s growth rate had persisted and what real GDP per...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment rate falls. c. labor productivity falls. d. the unemployment rate rises. 8. The unemployment rate is the number of unemployed people, expressed as a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population. 9. If part of the labor force is unemployed, the...
The graph below shows real GDP levels over time. Answer the following questions based on this graph Business Cyc...
The graph below shows real GDP levels over time. Answer the following questions based on this graph Business Cycle Real GDP a. At time T. what is the economy experiencing? Full employment output An economic expansion - An economic contraction a. At time t, what is the economy experiencing? O Full-employment output O An economic expansion O An economic contraction b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? O Contractionary...
a. Brazil's real GDP was 1,180 trillion reais in 2013 and 1,202 trillion reais in 2014....
a. Brazil's real GDP was 1,180 trillion reais in 2013 and 1,202 trillion reais in 2014. Brazil's population was 198 million in 2013 and 200 million in 2014. Calculate: i. The growth rate of real GDP. ii. The growth rate of real GDP per person. iii. The approximate number of years it takes for real GDP per person in Brazil to double if the 2014 growth rate of real GDP and the population growth rate are maintained. b. The IMF...
The graph below shows real GDP levels over time. Answer the following questions based on this...
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Real GDP Time a. At time T, what is the economy experiencing? Full-employment output An economic contraction An economic expansion b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? Contractionary fiscal policy Expansionary fiscal policy c. What type of actions might the government take? An increase in both taxes and government purchases...
- + r Fit to pag MULTIPLE CHOICE. Choose the one alternative that best completes the...
- + r Fit to pag MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answer the question. D) foreign products 20) Social Security collects taxes on A) sales of food B) barter Income C) payroll income TRUE FALSE. Write T'If the statement is true and Fir the statement is false. 21) Government transfer payments shift income from one person to another and therefore do not produce a final good or service and hence are not part...
the natural unemployment rate, real GDP When the unemployment rate potential GDP. is greater than; is...
the natural unemployment rate, real GDP When the unemployment rate potential GDP. is greater than; is less than equals; is less than equals; is greater than is less than; is less than is greater than; equals
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Rea...
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Real GDP Time a. At time T, what is the economy experiencing? An economic contraction Full-employment output An economic expansion b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? Expansionary fiscal policy Contractionary fiscal policy c. What type of actions might the government take? An Increase in taxes and a decrease in...
FEE If real GDP is greater than potential GDP, the economy is O A. in a below full - employment equilibrium. OB. in a long-run equilibrium. O C. not in a short - run macroeconomic equilibrium. OD. in a recessionary equilibrium. O E. in an above full - employment equilibrium. 7:30
Choose the statement about the Lucas wedge that is correct. est O A. The Lucas wedge in 2016 is smaller than the Lucas wedge in 2000, OB. The Lucas wedge equals real GDP minus potential GDP. OC. The Lucas wedge accumulated to $790,000 per person by 2016 OD. The Lucas wedge is the dollar value of the accumulated gap between what real GDP per person would have been if the 1970s growth rate had persisted and what real GDP per...
The graph below shows real GDP levels over time. Answer the following questions based on this graph Business Cycle Real GDP a. At time T. what is the economy experiencing? Full employment output An economic expansion - An economic contraction a. At time t, what is the economy experiencing? O Full-employment output O An economic expansion O An economic contraction b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? O Contractionary...
a. Brazil's real GDP was 1,180 trillion reais in 2013 and 1,202 trillion reais in 2014. Brazil's population was 198 million in 2013 and 200 million in 2014. Calculate: i. The growth rate of real GDP. ii. The growth rate of real GDP per person. iii. The approximate number of years it takes for real GDP per person in Brazil to double if the 2014 growth rate of real GDP and the population growth rate are maintained. b. The IMF...
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Real GDP Time a. At time T, what is the economy experiencing? Full-employment output An economic contraction An economic expansion b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? Contractionary fiscal policy Expansionary fiscal policy c. What type of actions might the government take? An increase in both taxes and government purchases...
- + r Fit to pag MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answer the question. D) foreign products 20) Social Security collects taxes on A) sales of food B) barter Income C) payroll income TRUE FALSE. Write T'If the statement is true and Fir the statement is false. 21) Government transfer payments shift income from one person to another and therefore do not produce a final good or service and hence are not part...
the natural unemployment rate, real GDP When the unemployment rate potential GDP. is greater than; is less than equals; is less than equals; is greater than is less than; is less than is greater than; equals
The graph below shows real GDP levels over time. Answer the following questions based on this graph. Business Cycle Real GDP Time a. At time T, what is the economy experiencing? An economic contraction Full-employment output An economic expansion b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? Expansionary fiscal policy Contractionary fiscal policy c. What type of actions might the government take? An Increase in taxes and a decrease in...
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