At long-run macroeconomic equilibrium,
A) an inflationary gap exists.
B) real GDP equals potential GDP.
C) a recessionary gap exists.
D) real GDP is less than potential GDP but is as close as it is possible to be.
Correct Answer:
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Q207: Full-employment equilibrium occurs when
A) real GDP exceeds
Q208: In the short-run, real GDP can be
Q209: If the economy is at long run
Q210: As the price level falls, the quantity
Q211: Short-run macroeconomic equilibrium occurs when the quantity
Q213: Q214: A short-run macroeconomic equilibrium occurs Q215: The AS/AD model studies the relationship between Q216: In the short run, the equilibrium level Q217: 
A) at the
A)
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