Question 4 (12 marks) The table below shows data for five economies of similar size. Real GDP is measured in billions of dollars. Assume that potential output for each economy is $340 billion. Economics Real GDP (in $billion) Rate of Wage Change Economy A 300 -1.0% Economy B 320 0.5% Economy C 340 0% Economy D 360 +3.5%% Economy E 380 I. Which of the economics is operating at its long-run equilibrium? Answer b. Which of the economies are experiencing an inflationary gap? Answer: C. Explains why wages are rising in Economy E? Answer: d. Why in Economy C. rate of wage rate change is zero? Answer: e. Which economy (s) is/are in recession? Answer: f. Which economy is running at full employment? Explain