In Macroland,potential GDP equals $20 billion and real GDP equals $21.5 billion.Macroland has a(n)_________ gap equal to ________% of potential GDP.

Name: In Macroland,potential GDP equals $20 billion and real GDP equals $21.5 billion.Macroland has a(n)_________ gap equal to ________% of potential GDP.
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An expansionary gap occurs when real GDP exceeds potential GDP. The gap is calculated as ((Real GDP - Potential GDP) / Potential GDP) * 100 = ((21.5 - 20) / 20) * 100 = 7.5%.

In Macroland,potential GDP Equals $20 Billion and Real GDP Equals