(Figure: Short-Run Equilibrium) Use Figure: Short-Run Equilibrium. If the economy is at equilibrium at Y1 and P1, it is in a(n) :
A) recessionary gap
B) recessionary gap.
C) inflationary gap.
D) inflationary gap
E) contraction.
F) contraction
G) liquidity trap
H) liquidity trap.
Correct Answer:
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