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A Recessionary Gap Means That Short-Run Macroeconomic Equilibrium GDP

Question 223

Multiple Choice

A recessionary gap means that short-run macroeconomic equilibrium GDP


A) is less than full-employment GDP.
B) equals full-employment GDP.
C) is more than full-employment GDP.
D) may be less than, more than, or the same as full-employment GDP depending on the level of potential GDP.

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