-In the figure above, the economy is at an equilibrium with real GDP of $16 trillion and a price level of 110. At this point there is
A) price stability.
B) a recessionary gap.
C) a full-employment equilibrium.
D) an above full-employment equilibrium.
E) an inflationary gap.

Question

-In the figure above, the economy is at an equilibrium with real GDP of $16 trillion and a price level of 110. At this point there is
A) price stability. 
B) a recessionary gap. 
C) a full-employment equilibrium. 
D) an above full-employment equilibrium. 
E) an inflationary gap.

Quizplus · Accepted Answer

The Answer of 
-In the figure above, the economy is at an equilibrium with real GDP of $16 trillion and a price level of 110. At this point there is
A) price stability. 
B) a recessionary gap. 
C) a full-employment equilibrium. 
D) an above full-employment equilibrium. 
E) an inflationary gap.

-In the Figure Above, the Economy Is at an Equilibrium