Question
The table below provides macroeconomic data for a hypothetical economy. Dollar amounts are all in constantdollar terms. The table below provides macroeconomic data for a
The table below provides macroeconomic data for a hypothetical economy. Dollar amounts are all in
constantdollar
terms.
The table below provides macroeconomic data for a hypothetical economy. Dollar amounts are all in
constantdollar
terms.
Year | Actual Output (billions of $) | Potential Output (billions of $) | Unemployment Rate (% of labour force) |
2012 | 402 | 404 | 7.1 |
2013 | 408 | 411 | 7.2 |
2014 | 415 | 415 | 6.3 |
2015 | 420 | 418 | 5.9 |
2016 | 422 | 420 | 6.0 |
2017 | 420 | 423 | 7.0 |
2018 | 425 | 425 | 6.3 |
TABLE
191
Refer to Table
191.
In the year 2015, it is probably the case that workers are ________ and factories are ________.
A.
working longer than normal hours; operating beyond their normal capacity
B.
working longer than normal hours; facing temporary shutdowns
C.
experiencing zero unemployment; operating beyond their normal capacity
D.
facing cyclical unemployment; facing temporary shut downs
E.
experiencing zero unemployment; operating extra shifts
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started