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Home / Questions / Refer to the table below, in which year is real GDP greater than nominal GDP? Year GDP def...

Refer to the table below, in which year is real GDP greater than nominal GDP? Year GDP deflator  1999  90  2000 100  2001 102  2002 112  2003 108  2004 117  2. Assuming that time preferences of house

Refer to the table below, in which year is real GDP greater than nominal GDP?
Year GDP deflator 
1999  90 
2000 100 
2001 102 
2002 112 
2003 108 
2004 117 

2. Assuming that time preferences of households decrease (being more patient),
Would equilibrium interest rate increase or decrease?   [ Select ]                       ["increase", "decrease"]      
Would equilibrium quantity of loans increase or decrease? [ Select ]                       ["increase", "decrease"]      

3. When the economy is in recession,
Would the actual unemployment rate be above or below the natural rate of unemployment? [ Select ]                       ["above", "below"]      
Would the actual GDP be above or below the full-employment output? [ Select ]                       ["above", "below"]      

May 04 2021 View more View Less

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