Using Figure 3 above, suppose that the economy was at Y1. This level of GDP would be considered:
A) inflationary.
B) recessionary.
C) a long run level of output.
D) a natural rate of output.

Question

Using Figure 3 above, suppose that the economy was at Y1. This level of GDP would be considered:
A) inflationary. 
B) recessionary. 
C) a long run level of output. 
D) a natural rate of output.

Quizplus · Accepted Answer

The Answer of  Using Figure 3 above, suppose that the economy was at Y1. This level of GDP would be considered:
A) inflationary. 
B) recessionary. 
C) a long run level of output. 
D) a natural rate of output.

Using Figure 3 Above, Suppose That the Economy Was at Y1