Multiple Choice
-Refer to Figure 11-8.If YFE represents the full-employment level of output,what can we say about the state of the economy at Y₁?
A) It is in recession.
B) It is in expansion.
C) It is in equilibrium,but above full employment.
D) It is not in equilibrium,and output will increase.
E) It is not in equilibrium,and output will fall.
Correct Answer:
Verified
Correct Answer:
Verified
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