Figure 15-4 -Refer to Figure 15-4.In the Figure Above,LRAS₁ and SRAS₁ Denote

question 177

Multiple Choice

Figure 15-4

-Refer to Figure 15-4.In the figure above,LRAS₁ and SRAS₁ denote LRAS and SRAS in year 1,while LRAS₂ and SRAS₂ denote LRAS and SRAS in year 2.Given the economy is at point A in year 1,what is the growth rate in potential GDP in year 2?

• A) 8%
• B) 9.1%
• C) 10%
• D) 12%

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Managers

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The increased pleasure or usefulness obtained from the consumption of one more unit of a good or service.

Marginal Benefit

Enhanced satisfaction or usefulness gained upon consuming an additional unit of a good or service.