Exhibit 9-4 -Refer to Exhibit 9-4.When AD and SRAS cross at point (P₁,Q₃),the economy is in A)a recessionary gap. B)an inflationary gap. C)long-run equilibrium. D)a and c E)b and c

Name: Exhibit 9-4 -Refer to Exhibit 9-4.When AD and SRAS cross at point (P 1 ,Q 3 ),the economy is in A)a recessionary gap. B)an inflationary gap. C)long-run equilibrium. D)a and c E)b and c
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The economy is in long-run equilibrium when AD and SRAS cross at point (P1,Q3).

Exhibit 9-4 -Refer to Exhibit 9-4.When AD and SRAS Cross at Point