Refer to figure 1. Since the second week of March COVID-19 panic and lock-down has pushed the U.S. economy into a recession. Which equilibrium point would show the economy is at recessionary state? How much is the recessionary gap?

Equilibrium at point A; recessionary gap =$2 trillions Equilibrium at point A; recessionary gap = -$1 trillion. Equilibrium at point B; recessionary gap = $0.5 trillions. Equilibrium at point B; recessionary gap = $1 trillion O Equilibrium at point C; recessionary gap = $1 trillion.LAS AS C 103 Price level (2012=100) A B 101 AD 2 ADo AD1 21 22 23 Real GDP (trillions of dollars, 2012=100)