5. The economy depicted in the graph is experiencing a(n) a. contractionary gap. b. recessionary gap. c.

Question:

5. The economy depicted in the graph is experiencing a(n)

a. contractionary gap.

b. recessionary gap.

c. inflationary gap.

d. demand gap.

e. supply gap.

Real GDP Aggregate price level Y1 LRAS SRAS AD E

P1 Tackle the Test: Free-Response Questions 1. Refer to the graph above.

a. Is the economy in short-run macroeconomic equilibrium? Explain.

b. Is the economy in long-run macroeconomic equilibrium? Explain.

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Krugmans Economics For Ap

ISBN: 9781429218276

2nd Edition

Authors: Margaret Ray, David A. Anderson

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Question Posted: Oct 03, 2024 06:00 AM

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5. The economy depicted in the graph is experiencing a(n) a. contractionary gap. b. recessionary gap. c.

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Krugmans Economics For Ap

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