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On a TE-TP Diagram Consider a Level of Real GDP

Question 27

Multiple Choice

On a TE-TP diagram consider a level of Real GDP at which the vertical distance to the TE line exceeds the vertical distance to the 45-degree line.This Real GDP is __________ its equilibrium level,with __________.


A) above; TE > TP
B) above; TE < TP
C) below; TE > TP
D) below; TE < TP

Correct Answer:

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