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Figure 12-1 -Refer to Figure 12-1. the Economy Is Initially at Output

Question 69

Multiple Choice

Figure 12-1 Figure 12-1 -Refer to Figure 12-1. The economy is initially at output level Y<sub>1</sub> and there is A) an inflationary gap. B) a recessionary gap. C) equilibrium at full employment. D) a short-run and a long-run equilibrium.
-Refer to Figure 12-1. The economy is initially at output level Y1 and there is


A) an inflationary gap.
B) a recessionary gap.
C) equilibrium at full employment.
D) a short-run and a long-run equilibrium.

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