In the Short Run, Real GDP Can Be Greater Than

question 23

Multiple Choice

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

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

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Definitions:

Management

The process of dealing with or controlling things or people, often within an organizational setting.

Law Of Partnership

Legal principles that govern the formation, operation, and dissolution of a partnership.

Partner Responsibility

The liability and obligations that partners in a partnership have towards each other, the partnership, and third parties.

Third Party

An individual or entity that is involved in a transaction but is not one of the principal parties directly involved in the deal or agreement.