If Real GDP is greater than Natural Real GDP: a. the economy is in a recessionary gap

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If Real GDP is greater than Natural Real GDP: a. the economy is in a recessionary gap b. the surplus of labor will cause wage rates to fall . according to classical economic theory, wage rates will rise until Natural Real GDP is restored . All of the above

Posted Date: Jun 14, 2024 12:46 AM

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If Real GDP is greater than Natural Real GDP: a. the economy is in a recessionary gap

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