When the aggregate demand curve and the aggregate supply curve intersect, A.the economy is in short- run macroeconomic equilibrium. B.cyclical unemployment must be zero. C.there is a recession. D.the potential GDP curve must also intersect at the same point. E.inﬂation must be increasing. QUESTION 5If real GDP in a small country is $5 billion in 2019 and real GDP in the same country is $5.2 billion in 2020, the growth rate of real GDP between 2019 and 2020 A.is 4.00%. B.is 3.17%. C.is 3.85%. D.is 3.28%. E.is 1.04%.

The aggregate demand curve shows all the combinations of the quantity of GDP and price level at…

Answered: When the aggregate demand curve and the…

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

When the aggregate demand curve and the aggregate supply curve intersect,

	A.	the economy is in short- run macroeconomic equilibrium.
	B.	cyclical unemployment must be zero.
	C.	there is a recession.
	D.	the potential GDP curve must also intersect at the same point.
	E.	inﬂation must be increasing.

QUESTION 5

If real GDP in a small country is $5 billion in 2019 and real GDP in the same country is $5.2 billion in 2020, the growth rate of real GDP between 2019 and 2020

A.

is 4.00%.

B.

is 3.17%.

C.

is 3.85%.

D.

is 3.28%.

E.

is 1.04%.

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