ECON201

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Question 1 

 

The term ”full employment GDP” is synonymous with which of the following?

Question 1 options:

 
a)  potential GDP

 
 
b)  Keynesian zone

 
 
c)  aggregate GDP

 
 
d)  macroeconomic equilibrium

 

 

Question 2 

Question 2 Unsaved

Whether the economy is in a recession is illustrated in the AD/AS model by how close the _____________________ is to the potential GDP line.

Question 2 options:

 
a)  AS and AD curve

 
 
b)  equilibrium

 
 
c)  AD curve

 
 
d)  AS curve

 

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