Multiple Choice
The figure below shows the determination of the equilibrium price level and real GDP in an aggregate demand-aggregate supply model. If the economy is at point H, there is a(n) :
A) expansionary gap of $300 billion.
B) recessionary gap of $300 billion.
C) recessionary gap of $10 billion.
D) expansionary gap of $20 billion.
E) expansionary gap of $10 billion.
Correct Answer:
Verified
Correct Answer:
Verified
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