Suppose potential GDP is $14000. If consumption is $9700, investment is $2500, Government purchases is $1,500, export is 700 and import is 400, is this market operating at full employment (is economy working at its potential)? a. Yes, the market is at full employment b. No, the market is in recession С. No, the market is in expansion d. Not enough information
Suppose potential GDP is $14000. If consumption is $9700, investment is $2500, Government purchases is $1,500, export is 700 and import is 400, is this market operating at full employment (is economy working at its potential)? a. Yes, the market is at full employment b. No, the market is in recession С. No, the market is in expansion d. Not enough information
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Suppose potential GDP is $14000. If consumption is
$9700, investment is $2500, Government purchases is
$1,500, export is 700 and import is 400, is this market
operating at full employment (is economy working at its
potential)?
а.
Yes, the market is at full employment
b.
No, the market is in recession
С.
No, the market is in expansion
d.
Not enough information](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F344cbb3c-a3d8-4176-ae6f-5b0109879b18%2Fa87ad8de-0b77-47ce-927d-c569fd8d94c2%2Ffkmgng_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose potential GDP is $14000. If consumption is
$9700, investment is $2500, Government purchases is
$1,500, export is 700 and import is 400, is this market
operating at full employment (is economy working at its
potential)?
а.
Yes, the market is at full employment
b.
No, the market is in recession
С.
No, the market is in expansion
d.
Not enough information
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