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Question 7 (1 point) In left Panel (a) of the Exhibit, suppose that the initial equilibrium is at real GDP level Y1 and price level

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Question 7 (1 point) In left Panel (a) of the Exhibit, suppose that the initial equilibrium is at real GDP level Y1 and price level P2. At real GDP level Y1 there is: Question 7 options: A} an inflationary gap. B] a recessionary gap. C) full employment. D) longrun requilibrium

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