Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section15.3: The Components Of Gdp
Problem 3QQ
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Question
Refer to Fig 9.6. If full employment output occurs at QA, then the aggregate demand is
A).too small, causing inflationary gap.
B) too great, causing recessionary gap.
C) too great, causing inflationary gap.
D) just right, causing no cyclical unemployment .
![AS
- AD
+
Qc
QA
Real GDP
Figure 9.6
Price Level](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F76f62cde-1639-4b40-b3b2-14a6bb5013c8%2F30c23092-5e05-4f9e-81e0-0ad56e5e9d05%2Fractlzi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:AS
- AD
+
Qc
QA
Real GDP
Figure 9.6
Price Level
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