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Real GDP decreased from $1,045 billion to $1,020. Potential GDP remained at $1,070 billion. The economy changed from a(an),A. expansion to a contraction. B. trough
Real GDP decreased from $1,045 billion to $1,020. Potential GDP remained at $1,070 billion. The economy changed from a(an),A. expansion to a contraction. B. trough to a peak. C. contraction to an expansion. D. an inflationary gap to a recessionary gap. E. none of the other answers is correct
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Economics
Authors: Stephen Slavin
11th Edition
978-0078021800, 0078021804
