On the following graph, the black line shows potential real GDP and the blue line shows actual real GDP for a Use the green quadrilateral (triangle symbols) to shade the area between actual and potential real GDP that re use the purple quadrilateral (diamond symbols) to shade the area between actual and potential real GDP that GDP (Billions of 2000 dollars) 10 9 8 10 N 1 0 Potential Real GDP 1990 1994 Actual Real GDP 1998 YEAR 2002 2006 2010 Positive GDP Gap The GDP gap is negligible. Everyone in the labor force is employed. OCyclical unemployment is negligible. The economy is operating at the natural rate of unemployment. Negative GDP Gap Which of the following are true of an economy operating at full employment? Check all that apply.
On the following graph, the black line shows potential real GDP and the blue line shows actual real GDP for a Use the green quadrilateral (triangle symbols) to shade the area between actual and potential real GDP that re use the purple quadrilateral (diamond symbols) to shade the area between actual and potential real GDP that GDP (Billions of 2000 dollars) 10 9 8 10 N 1 0 Potential Real GDP 1990 1994 Actual Real GDP 1998 YEAR 2002 2006 2010 Positive GDP Gap The GDP gap is negligible. Everyone in the labor force is employed. OCyclical unemployment is negligible. The economy is operating at the natural rate of unemployment. Negative GDP Gap Which of the following are true of an economy operating at full employment? Check all that apply.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 9WNG
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