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QUESTION 8 Match the following statements to their correct answers. The output gap is positive The output gap is negative The output gap is about zero the output gap is increasing The output gap is decreasing a. The macroeconomy is relatively weak and at a level below where it can be in the long run b. The macroeconomy is "just right" at a level that is "about right" for the long run c. The macro economy is getting weaker and growing slower than it can in the long run d. The macroeconomy is relatively strong and at a level below where it can be in the long run e. The macro economy is getting stronger and growing faster than it can in the long run

QUESTION 8 Match the following statements to their correct answers. The output gap is positive The output gap is negative The output gap is about zero the output gap is increasing The output gap is decreasing a. The macroeconomy is relatively weak and at a level below where it can be in the long run b. The macroeconomy is "just right" at a level that is "about right" for the long run c. The macro economy is getting weaker and growing slower than it can in the long run d. The macroeconomy is relatively strong and at a level below where it can be in the long run e. The macro economy is getting stronger and growing faster than it can in the long run

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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). True False QUESTION 8 Match the following statements to their correct answers. The output gap is positive The output gap is negative The output gap is about zero the output gap is increasing The output gap is decreasing a. The macroeconomy is relatively weak and at a level below where it can be in the long run b. The macroeconomy is "just right" at a level that is "about right" for the long run c. The macro economy is getting weaker and growing slower than it can in the long run d. The macroeconomy is relatively strong and at a level below where it can be in the long run e. The macro economy is getting stronger and growing faster than it can in the long run QUESTION 9 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) Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answe
Transcribed Image Text: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). True False QUESTION 8 Match the following statements to their correct answers. The output gap is positive The output gap is negative The output gap is about zero the output gap is increasing The output gap is decreasing a. The macroeconomy is relatively weak and at a level below where it can be in the long run b. The macroeconomy is "just right" at a level that is "about right" for the long run c. The macro economy is getting weaker and growing slower than it can in the long run d. The macroeconomy is relatively strong and at a level below where it can be in the long run e. The macro economy is getting stronger and growing faster than it can in the long run QUESTION 9 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) Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answe
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