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QUESTION 20 O A. O B. O C. O D. 24. Suppose an economy has an upward-sloping AS curve and an inflationary gap equal
QUESTION 20 O A. O B. O C. O D. 24. Suppose an economy has an upward-sloping AS curve and an inflationary gap equal to $10 billion. If AD shifts to the left by 10 billion, Real output will fall by less than $10 billion. Real output will fall by $10 billion. The inflationary gap will be eliminated A recessionary gap will be created.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
