The Table Below Shows Data for India?s Economy If Potential GDP in India Is ___________Million Rupees, India Is

question 185

Multiple Choice

The table below shows data for India?s economy. Real GDP is measured in millions of rupees. $$\begin{array} { | l | l | l | l | } \hline & \text { Price level } & \begin{array} { l } \text { Real GDP } \\\text { supplied in the short } \\\text { run }\end{array} & \text { Real GDP demanded } \\\hline \text { a } & 114 & 23,501 & 35,898 \\\hline \text { b } & 120 & 25,355 & 32,341 \\\hline \text { c } & 125 & 27,670 & 27,670 \\\hline \text { d } & 131 & 30,366 & 18,569 \\\hline \text { e } & 138 & 33,164 & 15,898 \\\hline\end{array}$$ If potential GDP in India is ___________million rupees, India is experiencing___________ .

• A) 28,500; an above full-employment gap
• B) 30,000; a potential GDP gap
• C) 26,500; an inflationary gap
• D) 26,500; a recessionary gap

Distinguish between different types of financial statements and their specific purposes.

Calculate net income using given financial data.

Identify where common shares are reported within financial statements.

Determine the financial statement that illustrates a company's financial structure.