7. \"Economic growth\" has occurred if the a. inflation rate between this year a

Question

7. "Economic growth" has occurred if the

a. inflation rate between this year and last year is zero or less.
b. GDP this year exceeds the Real GDP this year.
c. unemployment rate this year is above the natural rate of unemployment.
d. Real GDP or per-capita Real GDP this year exceeds those of last year.




8. If aggregate quantity supplied is greater than aggregate quantity demanded at a particular price level, then a

a. shortage exists and consumers will bid the price level up.
b. surplus exists and consumers will bid the price level up.
c. surplus exists and the price level will decline.
d. shortage exists and the price level will decline.

Explanation / Answer

the answer will definitely be option C And A ie 7)c. unemployment rate this year is above the natural rate of unemployment. 8)a. shortage exists and consumers will bid the price level up

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