If the Quantity of Real GDP Supplied Equals the Quantity

question 72

Multiple Choice

If the quantity of real GDP supplied equals the quantity of real GDP demanded,then

• A)nominal GDP must equal real GDP.
• B)real GDP must equal potential GDP.
• C)real GDP must be greater than potential GDP.
• D)real GDP might be greater than,equal to,or less than potential GDP.
• E)real GDP must be less than potential GDP.

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Definitions:

Failure of Consideration

A situation where the promised performance in a contract is not fulfilled, making the contract voidable.

Breach of Contract

The failure to fulfill the terms or obligations outlined in a contract.

Fraud in the Inducement

A deceitful practice to mislead someone into entering a contract, undermining the agreement's legitimacy.

Indorsers

Individuals or entities that sign the back of a negotiable instrument, such as a cheque or a promissory note, thereby endorsing it to another party.