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Exhibit 9-4 -Refer to Exhibit 9-4.When AD and SRAS Cross at Point

Question 40

Multiple Choice

Exhibit 9-4 Exhibit 9-4 -Refer to Exhibit 9-4.When AD and SRAS cross at point (P<sub>1</sub>,Q<sub>3</sub>) ,the economy is in A) a recessionary gap. B) an inflationary gap. C) long-run equilibrium. D) a and c E) b and c
-Refer to Exhibit 9-4.When AD and SRAS cross at point (P1,Q3) ,the economy is in


A) a recessionary gap.
B) an inflationary gap.
C) long-run equilibrium.
D) a and c
E) b and c

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