Question: 1. In the figure below, which point (A-E) is representative of: (a) the economy on its LRAS curve: ________________________ (b) the economy in a recessionary

1. In the figure below, which point (A-E) is representative of:

(a) the economy on its LRAS curve: ________________________

(b) the economy in a recessionary gap: ____________________

(c) the economy in an inflationary gap: _____________________

(d) the economy at full employment without government or the

influence of its institutions and agencies: _________________

(e) the economy at an unattainable position: _________________

1. In the figure below, which point (A-E) is representative of:(a) the

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