Econ2251129 - 144 Assume an economy is currently in...

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Chapter 22 / Exercise 3
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144.Assume an economy is currently in equilibrium with real GDP at $500 billion. If potential real GDP (LAS) is $600 billion, which of the following is true? A. There is a recessionary gap of 100 percent.B.There is a recessionary gap of $100 billion.C. There is an inflationary gap of $100 billion.D. There is an inflationary gap of 100 percent.
Accessibility: Keyboard NavigationBlooms: Analysis, ApplicationDifficulty: ModerateLearning Objective: 05-02 Explain the concepts of aggregate supply; aggregate demand; and macroeconomic equilibrium.Sayre - Chapter 05 #144Topic: 05-07 Macroeconomic EquilibriumType: New145.An increase in exports will have what effect on aggregate demand?
Accessibility: Keyboard NavigationBlooms: Comprehension, KnowledgeDifficulty: EasyLearning Objective: 05-03 Describe the factors that can affect aggregate demand and aggregate supply.Sayre - Chapter 05 #145Topic: 05-12 Changes in Net ExportsType: Pickup146.Aggregate demand is the total quantity of final goods and services that consumers, businesses, government and those living outside the country would buy at various different price levels. TRUEAccessibility: Keyboard NavigationBlooms: Comprehension, KnowledgeDifficulty: EasyLearning Objective: 05-02 Explain the concepts of aggregate supply; aggregate demand; and macroeconomic equilibrium.Sayre - Chapter 05 #146Topic: 05-06 Aggregate DemandType: Pickup147.The foreign-trade effect is the effect that a change in exports and imports has on the price level.
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Exploring Economics
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Chapter 22 / Exercise 3
Exploring Economics
Sexton
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Blooms: Comprehension, KnowledgeDifficulty: EasyLearning Objective: 05-02 Explain the concepts of aggregate supply; aggregate demand; and macroeconomic equilibrium.

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