If Real GDP Is Less Than Potential GDP, Then the Economy

question 375

Multiple Choice

If real GDP is less than potential GDP, then the economy is ____________equilibrium.

• A) at a below full-employment
• B) not in short-run macroeconomic
• C) in long-run macroeconomic
• D) at an above full-employment

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Definitions:

Fahrenheit

A scale of temperature where water freezes at 32 degrees and boils at 212 degrees under standard conditions.

Fahrenheit

A scale for measuring temperature where water freezes at 32 degrees and boils at 212 degrees under standard conditions.

Celsius

A scale and unit of measurement for temperature where 0 degrees represents the freezing point and 100 degrees the boiling point of water at sea level.

Fahrenheit

A scale of temperature on which water freezes at 32 degrees and boils at 212 degrees under standard conditions.