Question
1. When actual output (where AD and SRAS intersect) is less than LRAS, this is a(n) _____ gap. (inflationary or recessionary?) 2. A inflationary gap
1. When actual output (where AD and SRAS intersect) is less than LRAS, this is a(n) _____ gap. (inflationary or recessionary?)
2. A inflationary gap is when actual output (where AD and SRAS intersect) is _____ less than LRAS. (greater than, or less than?)
3. A fall in government purchases will cause _____ (aggregate demand/short run aggregate supply) to _____ (shift in/shift out).
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Solution 1 When actual output where AD and SRAS intersect is less than LRAS this ...
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Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
