According to ________,When Real GDP Is ________ Percentage Points Greater

question 78

Multiple Choice

According to ________,when real GDP is ________ percentage points greater than potential GDP,the unemployment rate is one percentage point ________ the natural unemployment rate.

• A)Okun's Law;four;below
• B)Okun's Law;two;below
• C)Phillips' Law;four;above
• D)Say's Law;two;above
• E)Keynes' Law;two;below

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Definitions:

Net Income

The net financial gain or deficit for a company following the calculation of all income and outgoings.

Operating Expenses

Expenditures that a business incurs as a result of performing its normal business operations.

Rent Revenue

Income earned from leasing out properties or equipment.

Cost of Goods Available

The total inventory cost of goods that a company has available for sale at the beginning of an accounting period, including purchases made during the period.