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Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
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Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
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Suppose an economy has an inflationary gap. a. Illustrate this using a graph with LRAS, SRAS, and AD curves. Identify the equilibrium price level, real GDP, and the output gap in your
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Inflationary and deflationary gaps
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