In long-run equilibrium, real GDP is equal to to Y*. At this point, the economy has __________.zero unemploymentnegative cyclical unemployment but positive frictional and structural unemploymentzero cyclical unemploymentpositive cyclical unemploymentunanswered

3. If the short-run macroeconomic equilibrium occurs with real GDP less than Y*, the economy isA) at its full-employment level of output.B) experiencing a recessionary gap.C) experiencing an inationary gap.D) threatened with an acceleration of ination.E) operating at full [email protected]

Potential output is:Question 20Select one:a.the level of real GDP that exists when the economy is experiencing only cyclical and structural unemployment.b.the level of real GDP that exists when the quantity of labor supplied is equal to the quantity of labor demanded.c.the level of real GDP that exists when the actual rate of unemployment is zero.d.the level of real GDP that exists when the economy is experiencing only frictional and cyclical unemployment.

If real GDP is greater than potential GDP, then:Group of answer choicesthe actual unemployment rate equals zerothe actual unemployment rate is greater than the natural unemployment ratethe output gap is negativethe actual unemployment rate is less than the natural unemployment rate

he economy attains _______ when the unemployment rate equals the natural rate of unemployment.Multiple choice question.cyclical unemploymentfull employmentshort-run equilibriumfrictional unemployment

If the output gap equals 0%, then Group of answer choices there is an expansionary gap cyclical unemployment equals the sum of structural and frictional unemployment the actual rate of unemployment is greater than the natural rate of unemployment. there is no cyclical unemployment potential GDP is greater than actual GDP