22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
1. A recessionary gap occurs when a. The short run aggregate supply curve shifts rightward. b. Real GDP is less than potential GDP. c. The economy is at its long run equilibrium.
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A recessionary gap occurs when: A.the current output level is below the full employment level of production. B.actual real GDP is less than potential real GDP. C.All of these are true. D.the
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22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
