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The given table shows hypothetical data for five Potential Output Gap economies. Real GDP is measured in millions of dollars. Real GDP GDP (Y*) (%
The given table shows hypothetical data for five Potential Output Gap economies. Real GDP is measured in millions of dollars. Real GDP GDP (Y*) (% of Y* ) Complete parts (a) through (e). Economy 1 68,000 68,000 % a. Fill in the missing data in the table. Economy 2 4, 100 4,500 Which economies have an inflationary gap? (Select all Economy 3 134,000 122,000 that apply.) Economy 4 57,000 52,000 OA. Economy 2 Economy 5 7,500 8,600 % O B. Economy 4 (Round your responses to one decimal place.) O C. Economy 1 OD. Economy 5 O E. Economy 3 Which economies have a recessionary gap? (Select all that apply.) A. Economy 4 OB. Economy 3 O C. Economy 5 OD. Economy 1 O E. Economy 2 b. Which economies likely have the most unused capacity? Explain. ikely have the most unused capacity, because in these economies
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