Complete the following statement. At an above full-employment equilibrium, real GDP _________ potential GDP and there is a/an __________ gap. This can be caused by a _________ shock to aggregate demand. Complete the following statement. At an above full-employment equilibrium, real GDP _________ potential GDP and there is a/an __________ gap. This can be caused by a _________ shock to aggregate demand. is equal to; natural output gap; positive exceeds; inflationary; positive is above; inflationary; negative is less than; recessionary; negative.
Complete the following statement. At an above full-employment equilibrium, real GDP _________ potential GDP and there is a/an __________ gap. This can be caused by a _________ shock to aggregate demand. Complete the following statement. At an above full-employment equilibrium, real GDP _________ potential GDP and there is a/an __________ gap. This can be caused by a _________ shock to aggregate demand. is equal to; natural output gap; positive exceeds; inflationary; positive is above; inflationary; negative is less than; recessionary; negative.
Chapter14: Aggregate Demand And Supply
Section: Chapter Questions
Problem 9SQP
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Question
Complete the following statement. At an above full-employment equilibrium, real GDP _________ potential GDP and there is a/an __________ gap. This can be caused by a _________ shock to aggregate demand. Complete the following statement. At an above full-employment equilibrium, real GDP _________ potential GDP and there is a/an __________ gap. This can be caused by a _________ shock to aggregate demand. is equal to; natural output gap; positive exceeds; inflationary; positive is above; inflationary; negative is less than; recessionary; negative.
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