Which of the Following Statement or Statements Are Correct About

question 195

Multiple Choice

Which of the following statement or statements are correct about potential GDP?
I.Actual real GDP equals potential GDP when the economy is at full employment.
Ii.Real GDP can be less than potential GDP.
Iii.When real GDP equals potential GDP,it also equals nominal GDP.

• A)i only
• B)ii only
• C)ii and iii
• D)i and ii
• E)i,ii,and iii

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Definitions:

Corporate Status

A legal status that allows a company to operate as its own legal entity, separate from its owners.

Charitable Donations

Voluntary contributions made to nonprofit organizations or causes without expectation of receiving something in return.

Closely Held Corporations

Corporations that have a small group of shareholders with no market for buying or selling company stock. They often involve family businesses.

General Public

Refers to the ordinary people in society who are not involved in any particular profession or specialized group.