-If the Actual Real GDP Is Less Than Potential Real

question 22

Multiple Choice

-If the actual real GDP is less than potential real GDP, the economy is

• A) in a below full- employment equilibrium.
• B) in an above full- employment equilibrium.
• C) not in macroeconomic equilibrium.
• D) at full employment.

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Definitions:

Validity

Refers to the degree to which a test or instrument measures what it claims to measure.

Reliability

The degree to which an assessment tool produces stable and consistent results over time.

Public Policies

Governmental laws and programs designed to promote the welfare of children and families.

Child Development

The physical, cognitive, emotional, and social growth that occurs from infancy through adolescence.