In the Short-Run, Real GDP Can Be Greater Than or Less

question 52

Multiple Choice

In the short-run, real GDP can be greater than or less than potential GDP because in the short run the

• A) money wage rate is fixed.
• B) price level is fixed.
• C) quantity of capital is fixed.
• D) full-employment level of employment is fixed.

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Definitions:

Articles Of Incorporation

Document filed with a state government to legally document the creation of a corporation, outlining key details such as name, purpose, and structure.

Incorporation Document

Official papers filed with a state to legally document the creation of a corporation.

Corporate Charter

A legal document establishing a corporation, outlining its structure, and defining its rights and duties.

Corporate Board

A group of individuals elected by shareholders to oversee and make decisions on behalf of a corporation.