Solved

-Refer to Exhibit 9-4

Question 98

Multiple Choice

-Refer to Exhibit 9-4.When AD and SRAS cross at the point at which the price level is equal to P₁ and Real GDP is equal to Q₃,the economy is in

A) a recessionary gap.
B) an inflationary gap.
C) long-run equilibrium.
D) a and c
E) b and c

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