Exhibit 23-1 real GDP real GDP h A B CDEFGHI Time Potential GDP According to Exhibit 23-1, which of the following is true? a. Potential GDP fell between year B and year D. Ob. In normal times, real GDP is above potential GDP. c. Unemployment rose between year D and year F. d. All recessions are of the same duration. e. Aggregate demand fell between year B and year D.

Exhibit 23-1 real GDP real GDP h A B CDEFGHI Time Potential GDP According to Exhibit 23-1, which of the following is true? a. Potential GDP fell between year B and year D. Ob. In normal times, real GDP is above potential GDP. c. Unemployment rose between year D and year F. d. All recessions are of the same duration. e. Aggregate demand fell between year B and year D.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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