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22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
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1. A recessionary gap occurs when a. The short run aggregate supply curve shifts rightward. b. Real GDP is less than potential GDP. c. The economy is at its long run equilibrium.
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Revision_3 - A. Explain how a deflationary gap might occur. Deflationary gap is basically the difference between the output level of full employment and | Course Hero
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22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
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