Multiple Choice
The figure below shows the short-run aggregate supply curve of an economy. If P3 is the price level prevailing in the economy, _____.
A) there is an expansionary gap.
B) there is a recessionary gap.
C) the price level will rise.
D) the actual unemployment rate is above the natural rate.
E) potential output is greater than actual output.
Correct Answer:
Verified
Correct Answer:
Verified
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