Which three factors could have caused this change in potential real GDP? Assume this is a typical economy relying on inputs such as coal and oil. All items should be placed as either a contributing factor or not a contributing factor. Contributing factors discovery of a large source of rare metals used in manufacturing an improvement in technology coal price decrease Not contributing factors oil price increase riots and political instability increased consumer confidence a major bird flu pandemic an increase in exports

Which three factors could have caused this change in potential real GDP? Assume this is a typical economy relying on inputs such as coal and oil. All items should be placed as either a contributing factor or not a contributing factor. Contributing factors discovery of a large source of rare metals used in manufacturing an improvement in technology coal price decrease Not contributing factors oil price increase riots and political instability increased consumer confidence a major bird flu pandemic an increase in exports

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Question

Which three factors could have caused this change in potential real GDP? Assume this is a typical economy relying on inputs
such as coal and oil. All items should be placed as either a contributing factor or not a contributing factor.
Contributing factors
discovery of a large source of rare metals
used in manufacturing
an improvement in technology
coal price decrease
Answer Bank
Not contributing factors
oil price increase
riots and political instability
increased consumer confidence
a major bird flu pandemic
an increase in exports

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