Question
30. If PAE = 1,000 + 0.8Y and potential output = 5,000 you canconclude the economy has: A. an expansionary gap. B. a recessionary gap.
30. If PAE = 1,000 + 0.8Y and potential output = 5,000 you canconclude the economy has:
A. an expansionary gap.
B. a recessionary gap.
C. no output gap.
D. no autonomous expenditure.
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Economics of Money, Banking and Financial Markets
Authors: Frederic S. Mishkin
9th Edition
978-0321607751, 9780321599797, 321607759, 0321599799, 978-0321598905
