if potential GDP exceeds actual GDP, then (Select all that apply) U there are unemployed resources in the economy. the economy is operating inside the PPF. the economy is not experiencing full production. U the economy is operating outside the PPF.
if potential GDP exceeds actual GDP, then (Select all that apply) U there are unemployed resources in the economy. the economy is operating inside the PPF. the economy is not experiencing full production. U the economy is operating outside the PPF.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 5PA
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![If potential GDP exceeds actual GDP, then (Select all that apply)
O there are unemployed resources in the economy.
the economy is operating inside the PPF.
the economy is not experiencing full production.
O the economy is operating outside the PPF.
QUESTION 32
According to the economists introduced in this class, economics may be defined as (Select all that apply)
A study of how humans interact with each other and the environment to provide for their own survival and health.
A method to predict changes in the stock market.
A technique of thinking that helps its possessor to draw correct conclusions.
The science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
O A study of mankind in the ordinary business of life.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F896331c7-77f6-4437-8c30-ba964fc374d3%2F336054e8-f242-4588-9704-637b3da56c93%2F8krlj6g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If potential GDP exceeds actual GDP, then (Select all that apply)
O there are unemployed resources in the economy.
the economy is operating inside the PPF.
the economy is not experiencing full production.
O the economy is operating outside the PPF.
QUESTION 32
According to the economists introduced in this class, economics may be defined as (Select all that apply)
A study of how humans interact with each other and the environment to provide for their own survival and health.
A method to predict changes in the stock market.
A technique of thinking that helps its possessor to draw correct conclusions.
The science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
O A study of mankind in the ordinary business of life.
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