Question: QUESTION 20 O A. O B. O C. O D. 24. Suppose an economy has an upward-sloping AS curve and an inflationary gap equal

QUESTION 20 O A. O B. O C. O D. 24. Suppose an economy has an upward-sloping AS curve and an inflationary gap equal to $10 billion. If AD shifts to the left by 10 billion, Real output will fall by less than $10 billion. Real output will fall by $10 billion. The inflationary gap will be eliminated A recessionary gap will be created.

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