14. Using the aggregate expenditure-output model, assume the aggregate expenditures (AE) line is above the 45-degree line
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14. Using the aggregate expenditure-output model, assume the aggregate expenditures (AE) line is above the 45-degree line at full-employment GDP.
This vertical distance is called a (an)
a. inflationary gap.
b. recessionary gap.
c. negative GDP gap.
d. marginal propensity to consume gap.
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