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Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469 Exercise 15
Recessionary Gaps After reviewing Exhibit 3 in this chapter, explain why recessionary gaps occur only in the short run and only when the actual price level is below what was expected.
Explanation
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Recessionary gap:
"When the actual pote...
Economics 11th Edition by William McEachern
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