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Question 226

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Use the following to answer questions:
Figure: Policy Alternatives Use the following to answer questions: Figure: Policy Alternatives -(Figure: Policy Alternatives) Refer to Figure: Policy Alternatives. If the economy is in equilibrium at Y<sub>1</sub> in panel (a) , it is in: A) full employment. B) an inflationary gap. C) a liquidity trap. D) stagflation.
-(Figure: Policy Alternatives) Refer to Figure: Policy Alternatives. If the economy is in equilibrium at Y1 in panel (a) , it is in:


A) full employment.
B) an inflationary gap.
C) a liquidity trap.
D) stagflation.

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