If Real GDP Is Less Than Potential GDP, Then

question 93

Multiple Choice

If real GDP is less than potential GDP, then:

• A) the actual unemployment rate is greater than the natural unemployment rate.
• B) the actual unemployment rate equals zero.
• C) the output gap is positive.
• D) the actual unemployment rate is less than the natural unemployment rate.

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Definitions:

Strategic Plans

Detailed, carefully crafted outlines of how an organization intends to achieve its long-term goals and objectives.

Single-use Plans

Plans devised for a specific situation or project and intended to be used only once, not applicable to recurring situations.

Procedures

Systematic instructions or steps designed to perform a specific task or process effectively and efficiently.

Policies

Established guidelines or rules that govern the decision-making process and actions within an organization.