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questions relating to GDP and output gap : A. Using the above graph, Equilibrium E here represents what kind of output gap and what is the size of the output gap.
Sub: Economics Topic: Macro Economics Question: Questions relating to GDP and output gap ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects. A. Using the above graph, Equilibrium E here represents what kind of output gap and what is the size of the output gap. B. Define monetary policy. C. Describe how monetary policy restores full employment. Solution: A) At point E, the economy is facing a recessionary gap because the equilibrium real GDP is less than the potential GDP. Size of the recessionary
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