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
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
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter24: The Aggregate Demand/aggregate Supply Model
Section: Chapter Questions
Problem 7SCQ: How would a dramatic increase in the value of the stock market shift the AD curve? What effect would...
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QUESTION 19 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
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