Price level (GDP price index, 2012-100) Pocential AS 130 GDP 120 110 100 90 AD 19.0 19.5 20.0 20.5 21.0 21.5 Real GDP (trilons of 2012 dollars) In the figure above, the economy is at an equilibrium with real GDP of $20 trillion and a price level of 110. At this point there is a. price stability. Ob. a recessionary gap. O C. an inflationary gap. O d. an above full-employment equilibrium. O e. a full-employment equilibrium.

Price level (GDP price index, 2012-100) Pocential AS 130 GDP 120 110 100 90 AD 19.0 19.5 20.0 20.5 21.0 21.5 Real GDP (trilons of 2012 dollars) In the figure above, the economy is at an equilibrium with real GDP of $20 trillion and a price level of 110. At this point there is a. price stability. Ob. a recessionary gap. O C. an inflationary gap. O d. an above full-employment equilibrium. O e. a full-employment equilibrium.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 11SQ

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The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk 2008 $4.00 90 $1.50 150 2011 $6.00 150 $3.50 200 In 2011, this country's Select one: real GDP was $900, and the GDP deflator was 177.8 O.b. real GDP was $1065, and the GDP deflator was 150.2 Oc. real GDP was $900, and the GDP deflator was 150.2 O d. real GDP was $1065, and the GDP deflator was 177.8 Next page ge
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The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk 2008 $4.00 90 $1.50 150 2010 $5.00 120 $2.50 200 In 2010, this country's Select one: а. real GDP was $825, and the GDP deflator was 141.0 O b. real GDP was $780, and the GDP deflator was 141.0 Ос real GDP was $825, and the GDP deflator was 133.3 d. real GDP was $780, and the GDP deflator was 133.3
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