In the aggregate demand/aggregate supply (AD/AS) model, if real GDP is $1.40 trillion and potential GDP is $1.65 trillion, then the

Select one:

a)Inflationary gap is equal to $0.25 trillion

b)Recessionary gap is equal to $0.25 trillion

c)Recessionary gap is equal to $1.65 trillion

d)Inflationary gap is equal to $1.40 trillion