Question
1.Assume an economy is currently in equilibrium with real GDP at $1,627 billion. If potential real GDP (LAS) is $1,800 billion, which of the following
1.Assume an economy is currently in equilibrium with real GDP at $1,627 billion. If potential real GDP (LAS) is $1,800 billion, which of the following is true?
a)There is a recessionary gap of 173 percent.
b)There is an inflationary gap of 173 percent.
c)There is a recessionary gap of $173 billion.
d)There is an inflationary gap of $173 billion.
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Why Nations Fail The Origins Of Power, Prosperity, And Poverty
Authors: Daron Acemoglu, James Robinson
1st Edition
0307719227, 9780307719225
