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Question 29

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Use the following to answer questions: Use the following to answer questions: -(Figure: Short- and Long-Run Equilibrium) Refer to Figure: Short- and Long-Run Equilibrium. If the economy is at equilibrium at E<sub>1</sub>, it is in a(n) : A) recessionary gap. B) inflationary gap. C) low level of unemployment. D) liquidity trap.
-(Figure: Short- and Long-Run Equilibrium) Refer to Figure: Short- and Long-Run Equilibrium. If the economy is at equilibrium at E1, it is in a(n) :


A) recessionary gap.
B) inflationary gap.
C) low level of unemployment.
D) liquidity trap.

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