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-Refer to Exhibit 11

Question 47

Multiple Choice

-Refer to Exhibit 11.2, which shows the relationship between the price level and real GDP. Suppose the economy is initially at point A) Q₁ and Q₂. B) Q₂ and Q₃. C) Q₁ and Q₃. D) AD and AD*. E) A recessionary gap would be created between _____
-Refer to Exhibit 11.2, which shows the relationship between the price level and real GDP. Suppose the economy is initially at point


A) Q₁ and Q₂.
B) Q₂ and Q₃.
C) Q₁ and Q₃.
D) AD and AD*.
E) A recessionary gap would be created between _____

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