When the Economy Is at the Full Employment Level of Real

question 94

True/False

When the economy is at the full employment level of real GDP, expansionary fiscal policy will not increase the economy's total output in the long run.

---

Definitions:

Unilateral Contract

A promise exchanged for an act.

Bilateral Contract

A promise exchanged for a promise.

Scott V. Mid-Carolina Homes

A legal case that likely involves dispute resolution between an individual and a housing company, although specific details may vary.

Mutual Mistake

Mutual mistake is a situation in which all parties to a contract have a shared misunderstanding about a fundamental fact or assumption underlying that contract.