In the short run, the equilibrium level of real GDP
A. is necessarily less than potential GDP.
B. is necessarily equal to potential GDP.
C. is necessarily greater than potential GDP.
D. could be less than, equal to, or greater than potential GDP.
Answer:D
In the short run, the equilibrium level of real GDP
A. is necessarily less than potential GDP. B. is necessarily equal to potential GDP. C. is necessarily greater than potential GDP. D. could be less than, equal to, or greater than potential GDP.