In the figure above, in the short-run macroeconomic equilibrium, b. there is no structural unemployment. real GDP is greater than potential GDP. real GDP equals potential GDP. d. real GDP is less than potential GDP. C.
In the figure above, in the short-run macroeconomic equilibrium, b. there is no structural unemployment. real GDP is greater than potential GDP. real GDP equals potential GDP. d. real GDP is less than potential GDP. C.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 14QP
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![Price level (GDP deflator, 2005 100)
130
120
110
100
90
LAS SAS
AD
0 12.0 12.5 13.0 13.5 14.0 14.5
Real GDP (trillions of 2005 dollars)
In the figure above, in the short-run macroeconomic equilibrium,
b.
there is no structural unemployment.
real GDP is greater than potential GDP.
real GDP equals potential GDP.
C.
d. real GDP is less than potential GDP.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F72a6c93d-fdfd-4269-a1ad-44ac8a950dd4%2F7f152595-2bac-4c09-afc8-8d686783251a%2Fibzfjr_processed.png&w=3840&q=75)
Transcribed Image Text:Price level (GDP deflator, 2005 100)
130
120
110
100
90
LAS SAS
AD
0 12.0 12.5 13.0 13.5 14.0 14.5
Real GDP (trillions of 2005 dollars)
In the figure above, in the short-run macroeconomic equilibrium,
b.
there is no structural unemployment.
real GDP is greater than potential GDP.
real GDP equals potential GDP.
C.
d. real GDP is less than potential GDP.
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