A Recessionary Gap Is the Amount by Which

Multiple Choice

A recessionary gap is the amount by which

A) total planned real expenditures exceed total planned production in the long run.
B) the short-run equilibrium level nominal GDP is above the short-run real GDP.
C) the short-run equilibrium level nominal GDP is below the short-run real GDP.
D) the short-run equilibrium level of real GDP is below the full-employment level of real GDP.