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Use the Following to Answer Questions

Question 44

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Use the following to answer questions.
Exhibit: The Aggregate Demand/Aggregate Supply Model 1 Use the following to answer questions. Exhibit: The Aggregate Demand/Aggregate Supply Model 1 -(Exhibit: The Aggregate Demand/Aggregate Supply Model 1) Which of the following statements is true? A) The economy depicted in the figure experiences a recessionary gap = Y<sub>p</sub>-Y<sub>1</sub>. B) The economy depicted in the figure experiences a recessionary gap = Y<sub>p</sub>-Y<sub>2</sub>. C) The economy depicted in the figure experiences a recessionary gap = Y<sub>2</sub>-Y<sub>1</sub>. D) The economy depicted in the figure is in long-run equilibrium but not in short-run equilibrium.
-(Exhibit: The Aggregate Demand/Aggregate Supply Model 1) Which of the following statements is true?


A) The economy depicted in the figure experiences a recessionary gap = Yp-Y1.
B) The economy depicted in the figure experiences a recessionary gap = Yp-Y2.
C) The economy depicted in the figure experiences a recessionary gap = Y2-Y1.
D) The economy depicted in the figure is in long-run equilibrium but not in short-run equilibrium.

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