Question
During an inflationary gap, a.the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP that exceeds potential GDP. b.the
During an inflationary gap,
a.the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP that exceeds potential GDP.
b.the aggregate demand curve and the aggregate supply curve intersect at potential GDP.
c.real GDP is less than potential GDP.
d.the aggregate demand curve and the aggregate supply curve do not intersect.
e.the price level will fall to restore the long-run equilibrium.
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Accounting
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Volume 1, 2nd canadian Edition
176509739, 978-0176509736, 978-0176509743
