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

question 420

Multiple Choice

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

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

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Definitions:

Unassertive

Characterized by a lack of confidence and decisiveness in expressing one’s own desires, opinions, and needs.

Timid

Describes someone who is showing a lack of courage or confidence, easily frightened.

Cognitive Development

The study of how thinking, problem solving, and intelligence change and mature over time, particularly in children.

Continuous Process

An ongoing operation or production method that functions without interruption.