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QUESTION 11 Economists consider production at a sustainable level when: O a. Real GDP = Nominal GDP O b. Gross Domestic Product (GDP) = Gross

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QUESTION 11 Economists consider production at a sustainable level when: O a. Real GDP = Nominal GDP O b. Gross Domestic Product (GDP) = Gross National Product (GNP) c. Real GDP = Potential GDP O d. Frictional Unemployment = Structural Unemployment QUESTION 12 Which of the following would be included in a calculation of GDP this year? a. Steve Grogan buying box of cereal at his local market O b. Barbara Wilson buying a bond issued by General Motors O c. An illegal drug transaction at the corner of Elm and Fifth O d. Minute Maid Inc. buying oranges from a Florida orange grove for the production of orange in

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