If the Economy Is in Equilibrium at the $400 Billion

question 220

Multiple Choice

If the economy is in equilibrium at the $400 billion level of GDP and the full-employment level of GDP is $500 billion:

• A)real and nominal GDP will both increase.
• B)economy does not reach full-employment unless aggregate expenditures increases.
• C)real GDP will increase, but nominal GDP will decrease.
• D)the price level will increase.

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Definitions:

Verbal Report

An oral communication of information between individuals, often used in healthcare settings.

Oncoming Nurse

A nurse who is about to begin their shift and take over patient care responsibilities.

Heparin

An anticoagulant medication used to prevent and treat blood clots.

Partial Thromboplastin Time (PTT)

A blood test that measures how long it takes blood to clot, used to assess bleeding and clotting disorders and monitor anticoagulation therapy.