Question: The table gives the aggregate demand schedule, the short - run aggregate supply schedule, and the long - run aggregate supply schedule for an economy
The table gives the aggregate demand schedule, the shortrun aggregate supply schedule, and the longrun aggregate supply schedule for an economy
What is the quantity of real GDP at the shortrun macroeconomic equilibrium?
The quantity of real GDP at the shortrun macroeconomic equilibrium is $ billion.
Describe the economy's output gap.
The economy has
A a recessionary gap of $ billion
B neither a recessionary gap nor an inflationary gap
C an inflationary gap of $ billion
D an inflationary gap of $ billion
tabletablePriceleveltableReal GDPdemandedGD deflatortableReal GDPsuppliedin short runtableReal GDPsuppliedin long run
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