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f actual output exceeds potential output, the economy O is experiencing an inflationary gap. O may be in a long-run equilibrium but is not in
f actual output exceeds potential output, the economy O is experiencing an inflationary gap. O may be in a long-run equilibrium but is not in a short-run equilibrium. O is in neither a short-run nor long-run equilibrium. O is experiencing a recessionary gep.
If actual output exceeds potential output, the economy: O is experiencing an inflationary gap. may be in a long-run equilibrium but is not in a short-run equilibrium. O is in neither a short-run nor long-run equilibrium. is experiencing a recessionary gap.
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Managerial Economics A Problem-Solving Approach
Authors: Luke M. Froeb, Brain T. Mccann
2nd Edition
B00BTM8FK0
