Homework Answers
If real GDP is greater than potential GDP, the economy is above full-employment equilibrium.
If real GDP is less than potential GDP, the economy is below full-employment equilibrium.
If real GDP = potential GDP, the economy is in long-run equilibrium.
Answer: Option (E)
Add Answer to:
FEE If real GDP is greater than potential GDP, the economy is O A. in a...
AD-AS and Phillip Curve Model, Money Market and Banking System Graphically illustrate an economy in the...
AD-AS and Phillip Curve Model, Money Market and Banking System Graphically illustrate an economy in the long run equilibrium, producing at the full employment level of production. Indicate the equilibrium Price level (P*) and the level of real GDP (Y*) Graphically illustrate an economy in the short run equilibrium producing at a below full employment level of production. Indicate the equilibrium Price level (P*) and the level of real GDP (Y*) and show the amount of the recessionary gap. Graphically...
if the economy is in a recessionary gap a. real gdp is greater than natural real...
if the economy is in a recessionary gap a. real gdp is greater than natural real gdp b. real gdp is equal to natural real gdp c. real gdp is less than natural real gdp d. the (actual)unemployment rate is less than the natural unemployment rate. d. a and d
Describe three types of short-run macroeconomic equilibrium.
Describe three types of short-run macroeconomic equilibrium. A macroeconomic equilibrium in which real GDP is less than potential GDP is _______ equilibrium. And one in which real GDP equals potential GDP is _______ equlibrium. A. a below full-employment, a full-employment B. a full-employment, a below full-employment C. a full-employment, an inflationary D. a below full-employment, a recessionary The graph shows an economy's long-run aggregate supply curve. The economy is at an above full-employment equilibrium. Draw an aggregate demand curve and a short-run aggregate supply curve. Label them. In the graph,...
What is potential GDP? O A) It is the level of real GDP in the long...
What is potential GDP? O A) It is the level of real GDP in the long run. OB) It is the difference between current GDP and maximum GDP. O C ) It is the level of real GDP in the short run. O D) It is the level of GDP at which inflation is constant.
choose the correct statement real gdp grows at a smoother rate than potential gdp grow Choose...
choose the correct statement real gdp grows at a smoother rate
than potential gdp grow
Choose the correct statement. O A. Real GDP grows at a smoother rate than potential GDP grows. OB. Economic growth is illustrated as a movement along the PPF. OC. The return to full employment in an expansion phase of the business cycle is economic growth. OD. A return to full employment in a business cycle expansion is shown as a movement from inside the PPF...
The graph shows the economy in long-run equilibrium Then the world economy expands and the demand...
The graph shows the economy in long-run equilibrium Then the world economy expands and the demand for U.S.-produced goods increases Price level (GDP deflator, 2009-100) 14 Draw a curve that shows 1) the effect of increased demand for U.S.-produced goods. Label it 1 2) the effect of a rising money wage rate that returns the economy to full employment. Label it 2. Draw a point at the new long-run equilibrium 13 SAS 12 An economy is in a long-run equilibrium....
Suppose the current level of real GDP for an economy is below its potential level of...
Suppose the current level of real GDP for an economy is below its potential level of RGDP. Starting with this situation, and in the absence of any government action, what should next happen in the AD-AS model? Group of answer choices A. A decrease in the Long-Run Aggregate Supply B. An increase in Aggregate Demand C. A decrease in Aggregate Demand D. An increase in the Short-Run Aggregate Supply E. An increase in the Long-Run Aggregate Supply F. A decrease...
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the...
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the maintain full employment changes in step with the price level to O A. money wage rate OB. quantity of money OC. real wage rate OD. interest rate supplied and the when the money wage rate, the prices of other resources and Short run aggregate supply is the relationship between the quantity of potential GDP remain constant O A real GDP...
QUESTION 31 Figure 13-5 shows the short-run macroeconomic equilibrium of an economy at Point A. In...
QUESTION 31 Figure 13-5 shows the short-run macroeconomic equilibrium of an economy at Point A. In the figure, Point A suggests that: Figure 13-5 LRAS SRAS AD Real GDP a. the government should increase the level of taxes in the cconomy. b. the economy is operating with a recessionary gap c. the govemment should decrcase its budget d. the economy is operating at long-run equilibrium. e. the real value of currency in the economy is lower than its nominal valuc....
A recessionary gap exists when the macro economy is in equilibrium at less than the potential...
A recessionary gap exists when the macro economy is in equilibrium at less than the potential output of the the economy because aggregate demand is insufficient to fully employ all of society's resources. In other words, the equilibrium (AD = AS) occurs to the left of the vertical long-run supply curve. At this point, potential output is reached (full employment) and if any unemployment occurs, then it is due to structural or frictional, that is, the economy is at its...
What is potential GDP? O A) It is the level of real GDP in the long run. OB) It is the difference between current GDP and maximum GDP. O C ) It is the level of real GDP in the short run. O D) It is the level of GDP at which inflation is constant.
choose the correct statement real gdp grows at a smoother rate
than potential gdp grow
Choose the correct statement. O A. Real GDP grows at a smoother rate than potential GDP grows. OB. Economic growth is illustrated as a movement along the PPF. OC. The return to full employment in an expansion phase of the business cycle is economic growth. OD. A return to full employment in a business cycle expansion is shown as a movement from inside the PPF...
The graph shows the economy in long-run equilibrium Then the world economy expands and the demand for U.S.-produced goods increases Price level (GDP deflator, 2009-100) 14 Draw a curve that shows 1) the effect of increased demand for U.S.-produced goods. Label it 1 2) the effect of a rising money wage rate that returns the economy to full employment. Label it 2. Draw a point at the new long-run equilibrium 13 SAS 12 An economy is in a long-run equilibrium....
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the maintain full employment changes in step with the price level to O A. money wage rate OB. quantity of money OC. real wage rate OD. interest rate supplied and the when the money wage rate, the prices of other resources and Short run aggregate supply is the relationship between the quantity of potential GDP remain constant O A real GDP...
QUESTION 31 Figure 13-5 shows the short-run macroeconomic equilibrium of an economy at Point A. In the figure, Point A suggests that: Figure 13-5 LRAS SRAS AD Real GDP a. the government should increase the level of taxes in the cconomy. b. the economy is operating with a recessionary gap c. the govemment should decrcase its budget d. the economy is operating at long-run equilibrium. e. the real value of currency in the economy is lower than its nominal valuc....
A recessionary gap exists when the macro economy is in equilibrium at less than the potential output of the the economy because aggregate demand is insufficient to fully employ all of society's resources. In other words, the equilibrium (AD = AS) occurs to the left of the vertical long-run supply curve. At this point, potential output is reached (full employment) and if any unemployment occurs, then it is due to structural or frictional, that is, the economy is at its...
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 1 hour ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 1 hour ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 2 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 4 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 3 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 4 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 5 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 5 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 5 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 5 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 5 hours ago -
Why are polymers not typically casted into products?
asked 5 hours ago