(Figure: Inflationary and Recessionary Gaps) Use Figure: Inflationary and Recessionary Gaps. At E1, the economy:
A) is in long-run equilibrium
B) is in long-run equilibrium.
C) faces an inflationary gap
D) faces an inflationary gap.
E) faces a recessionary gap
F) faces a recessionary gap.
G) has low unemployment
H) has low unemployment.
Correct Answer:
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