Exhibit 14A-3 Macro AD-AS Model In Exhibit 14A-3, the level of real GDP associated with Y₁: A) is equal to potential real GDP. B) is an inflationary gap real GDP. C) is a long-run equilibrium. D) is caused by flexible wages and prices.

Question

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The Answer of Exhibit 14A-3 Macro AD-AS Model In Exhibit 14A-3, the level of real GDP associated with Y₁: A) is equal to potential real GDP. B) is an inflationary gap real GDP. C) is a long-run equilibrium. D) is caused by flexible wages and prices.

Exhibit 14A-3 Macro AD-AS Model in Exhibit 14A-3, the Level