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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What does the 45-degree line show?

To determine

The aspect that is shown by the 45 degree line is to be determined.

Explanation

The diagram of expenditure-output measures real GDP. This diagram is having two lines which are known as conceptual lines. First conceptual line on the diagram is the one which is drawn as vertical line and shows the potential GDP level. The second conceptual line is the line of 45 degree on the diagram which is drawn at the 45 degree angle and shows those points on which the value of x-axes and y-axes are same

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