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According to the Figure below, since the 2008 recession short-run output, Ỹt, has been reached in 2017. a. positive; potential output b. increasing; actual output c. decreasing; a steady state FRED Billions of Chained 2009 Dollars 17,600 17,200 16,800 16,400 16,000 15,600 15,200 14,800 14,400 14,000 13,600 Real Potential Gross Domestic Product Real Gross Domestic Product 2006 2008 2010 2012 2014 and it has d. Negative; zero e. Above potential output; the golden rule 2016

According to the Figure below, since the 2008 recession short-run output, Ỹt, has been reached in 2017. a. positive; potential output b. increasing; actual output c. decreasing; a steady state FRED Billions of Chained 2009 Dollars 17,600 17,200 16,800 16,400 16,000 15,600 15,200 14,800 14,400 14,000 13,600 Real Potential Gross Domestic Product Real Gross Domestic Product 2006 2008 2010 2012 2014 and it has d. Negative; zero e. Above potential output; the golden rule 2016

Macroeconomics: Private and Public Choice (MindTap Course List)
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 2CQ
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19. According to the Figure below, since the 2008 recession short-run output, Ỹt, has been reached in 2017. a. positive; potential output b. increasing; actual output c. decreasing; a steady state FRED Billions of Chained 2009 Dollars 17,600 17,200 16,800 16,400 16,000 15,600 15,200 14,800 14,400 14,000 13,600 Real Potential Gross Domestic Product Real Gross Domestic Product 2006 2008 2010 2012 2014 and it has d. Negative; zero e. Above potential output; the golden rule 2016
Transcribed Image Text:19. According to the Figure below, since the 2008 recession short-run output, Ỹt, has been reached in 2017. a. positive; potential output b. increasing; actual output c. decreasing; a steady state FRED Billions of Chained 2009 Dollars 17,600 17,200 16,800 16,400 16,000 15,600 15,200 14,800 14,400 14,000 13,600 Real Potential Gross Domestic Product Real Gross Domestic Product 2006 2008 2010 2012 2014 and it has d. Negative; zero e. Above potential output; the golden rule 2016
14. GDP in the long run is determined by Investment; the money supply Savings; the quantity equation a. b. C. GDP in the short run is determined by d. e. Technology and input factors; the sum of all expenditures Interest rates; the production function Government purchases; the matching function
Transcribed Image Text:14. GDP in the long run is determined by Investment; the money supply Savings; the quantity equation a. b. C. GDP in the short run is determined by d. e. Technology and input factors; the sum of all expenditures Interest rates; the production function Government purchases; the matching function
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