1 According to Chapter 9 (Unemployment, Inflation & Business Cycles), a "negative GDP gap" describes an economy that is underperforming versus the full-employment potential. True or Fase True False If...

Extracted text: 1 According to Chapter 9 (Unemployment, Inflation & Business Cycles), a "negative GDP gap" describes an economy that is underperforming versus the full-employment potential. True or Fase True False If two million new babies were born in the U.S. and if two million more immigrants came to the U.S., then the Real GDP Per Copita will go down if we assume no change in the actual GDP number. True or False True False


Extracted text: "We should tax the wealthy much more because they already have too much wealth and I don't have anything. Yest Redistribution of wealth sounds good to me. The poor would be better off and we would have an economic system that is more fair." - What kind of statement is this? Mutple Choice Positive Economics -tis factual and this statement is both true and correct The Classical Economists of the 1776 to 1930s era would call this action social juntice fainess Normative Economics is based on personal opinions and emotion This is known a the "Technical Tax Adjustment (TTA) thet is designed to make sure that super weathy billonaires pay more taxes 3.