Suppose Real GDP Is $13 Trillion and Potential Real GDP

question 153

True/False

Suppose real GDP is $13 trillion and potential real GDP is $13.5 trillion.If Congress and the president increase government purchases by $500 billion,then the economy will be brought to equilibrium at potential real GDP.

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Definitions:

Transferred Intent

A legal principle allowing the intent to harm one individual to be transferred to another individual who was actually harmed.

Battery

An intentional act that causes harmful or offensive contact with another person's body.

Rock

A naturally occurring solid aggregate of one or more minerals or mineraloids found in the Earth's crust.

Defamation

The act of damaging someone's reputation through false or malicious claims or statements, which can be categorized as libel (written) or slander (spoken).