What is the correct answer for number 7 YPOTSelected Answer: fredgraph (10).pngAttach FileQUESTION 7The output gap is increasing over time because actual GDP is greater than potential GDP when the macroeconomy is in equilibrium (neither excess demand nor excess supply).O TrueFalsed.a.QUESTION 8Match the following statements to their correct answers.c. The output gap is positivee.The output gap is negativeThe output gap is about zerothe output gap is increasingThe output gap is decreasingb.RemoveQUESTION 9Browse Local Filesfredgraph (11).pngClick Save and Submit to save and submit. Click Save All Answers to save all answers.Compare and contrast the output gap before and after 1980 and select the statement that best describes the difference between the two periods.The average output gap before 1980 is higher (around zero) than after 1980 (around -2.5 percent)a. The macro economy is getting weaker and growing slower than it can in the long runb. The macroeconomy is relatively strong and at a level below where it can be in the longrunfredgraph (10).pngc. The macro economy is getting stronger and growing faster than it can in the long rund. The macroeconomy is "just right" at a level that is "about right for the long rune. The macroeconomy is relatively weak and at a level below wherecan be in the longrunfredgraph (9).pngCritical Review.pdf learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f107f082f849/19283565?X-Blackboard-Expiration=1663556400000&X-Blackboard-S... ✰impus M WVU Mail((Bil. of Chn. 2012 S-Bill, of Chn. 2012 $)/Bil. of Chn. 2012 $)*1007.5FRED ((Real Gross Domestic Product-Real Potential Gross Domestic Product)/Real Potential Gross Domestic Product)*1005.02.50.0-2.5-5.0-7.5-10.0-12.5ph (12).pngMicrosoft WordMT195019551960Shaded areas indicate U.S. recessions.ENGL102 ECON 202fredgraph (11).png1965ANY Times WSJ WSJ419701975fredgraph (10).png19801985Sources: BEA; CBO1990fredgraph (9).png1995^20002005Critical Review.pdfwww201020152020fred.stlouisfed.org

The output gap is an economic proportion of the distinction between the actual result of an economy…

Answered: QUESTION 7 The output gap is increasing…

QUESTION 7 The output gap is increasing over time because actual GDP is greater than potential GDP when the macroeconomy is in equilibrium (neither excess demand nor excess supply). O True False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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