At long-run macroeconomic equilibrium,__________ .
A) an inflationary gap exists
B) a recessionary gap exists
C) real GDP equals potential GDP
D) real GDP is less than potential GDP but is as close as it is possible to be
Correct Answer:
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Q213: Q214: If the economy is at long run Q215: A short-run macroeconomic equilibrium occurs Q216: In the short run, the equilibrium level Q217: If the economy is in short run Q219: Full-employment equilibrium occurs when Q220: In the short run, the intersection of Q221: Economic growth Q222: One result of a decrease in aggregate Q223:
A) at the
A) real GDP exceeds
A) occurs when the long-run aggregate
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