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The Table Below Shows the Price Level and Real GDP

Question 233

Multiple Choice

The table below shows the price level and real GDP (in rupees) for India. Suppose that potential G 26,500 rupees.

In 2004, India experienced

A) a rightward shift in the long- run aggregate supply curve.
B) a recessionary gap.
C) an inflationary gap.
D) an above full- employment gap.

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