According to the Congressional Budget Office's projections, real GDP in 2007 was marginally higher than real potential GDP. If potential GDP is correctly assessed, then
According to the Congressional Budget Office's projections, real GDP in 2007 was marginally higher than real potential GDP. If potential GDP is correctly assessed, then during that period
the economy was on its long run aggregate supply curve. the economy was to the left of its long run aggregate supply curve. the economy was slightly to the right of its long run aggregate supply curve.
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Authors: Michael Sullivan III
5th Edition
978-0134135373, 134133536, 134135377, 978-0134133539
