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22 Oct 2020

If the real GDP < the potential GDP, then the economy is

Unemployment: Long run

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Vaishali YadavLv10

22 Oct 2020

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Related textbook solutions

Principles of Economics

2nd Edition, 2017

ISBN: 9781947172364

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ISBN: 9781947172388

Principles of Microeconomics

ISBN: 9781947172340

Related questions

If the economy is at macroeconomic equilibrium, then real GDP

a) might be equal to, greater than, or less than potential GDP.

b) must be greater than potential GDP.

c) must equal potential GDP.

d) must be less than potential GDP.

e) cannot be compared to potential GDP.

The level of real GDP the economy produces at full employment is called:

A) sustainable GDP.

B) nominal GDP.

C) potential GDP.

D) maximum GDP.

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emeraldlizard885

In an economy experiencing a persistently falling price level:

A. Potential GDP will necessarily exceed actual GDP.

B. Changes in nominal GDP may either overstate or understate changes in real GDP.

C. Changes in nominal GDP understate changes in real GDP.

D. Changes in nominal GDP overstate changes in real GDP.

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