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What does it mean when GDP is lower than potential GDP? a. The economy is in a recession and the unemployment rate is higher than
What does it mean when GDP is lower than potential GDP? a. The economy is in a recession and the unemployment rate is higher than natural unemployment. b. It means inflation is happening. c. It means nothing in particular, because GDP is always lower than potential GDP. d. The economy is operating at an unsustainable, frantic pace. The unemployment rate is below natural unemployment
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
