Calculate the values for the recessionary or inflationary gaps for each of the four cases in the
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Calculate the values for the recessionary or inflationary gaps for each of the four cases in the following table.
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FULL 300 900 900 200 RECESSIONARY INFLATIONARY MPC EQUILIBRIUM Y EMPLOYMENTY 0.60 0.70 0.80 0.90 GAP GAP $400 400 500 500
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