If the Economy Is Fully Employed,which of the Following Is

question 277

Multiple Choice

If the economy is fully employed,which of the following is true?

• A)The price level equals 100.
• B)Real and nominal GDP are equal.
• C)Real and potential GDP are equal.
• D)The unemployment rate is zero.
• E)Real GDP cannot increase.

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Definitions:

Determining Goals

The process of identifying and setting specific, measurable, achievable, relevant, and time-bound objectives.

Communication Problems

Issues or barriers that impair the effective exchange of information between individuals or groups.

Brainstorming

A creative group problem-solving technique designed to generate a large number of ideas for the solution to a problem.

Proofreading Stage

The final review process of written material to correct errors in grammar, spelling, punctuation, and formatting.