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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 49
Circle the letter that corresponds to the best answer. If equilibrium GDP is $5.5 trillion and full-employment GDP is $5 trillion, there is _______.
A) definitely an inflationary gap
B) probably an inflationary gap
C) definitely a recessionary gap
D) probably a recessionary gap
A) definitely an inflationary gap
B) probably an inflationary gap
C) definitely a recessionary gap
D) probably a recessionary gap
Explanation
Verified
Verified
When the actual GDP Potential GDP, there...
Macroeconomics 11th Edition by Stephen Slavin
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