Question
A contractionary gap is A. the amount of unwanted inventory accumulation. B. the difference between aggregate supply and aggregate demand. C. the amount by which
A contractionary gap is
A.
the amount of unwanted inventory accumulation.
B.
the difference between aggregate supply and aggregate demand.
C.
the amount by which taxes should be increased in order to put the brakes on
runaway
inflation.
D.
the amount by which the equilibrium level of real GDP is less than the
longrun
equilibrium level as given by LRAS.
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Macroeconomics
Authors: Stephen D. Williamson
6th Edition
013447211X, 134472119, 978-0134472119
