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Price Level 3. QUESTION 23 AS P2 AD Real GDP FIGURE 24-2 Refer to Figure 24-2. If the economy is currently in a short-run equilibrium at Y 1, the economy is experiencing O a longrun equilibrium. O a recessionary output gap. O an inflationary output gap. O potential output growth. O an excesS supply of labour.

Price Level 3. QUESTION 23 AS P2 AD Real GDP FIGURE 24-2 Refer to Figure 24-2. If the economy is currently in a short-run equilibrium at Y 1, the economy is experiencing O a longrun equilibrium. O a recessionary output gap. O an inflationary output gap. O potential output growth. O an excesS supply of labour.

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Price Level QUESTION 23 AS Pa AD 3. Real GDP FIGURE 24-2 Refer to Figure 24-2. If the economy is currently in a short-run equilibrium at Y 1, the economy is experiencing O a longrun equilibrium. O a recessionary output gap. an inflationary output gap. O potential output growth. O an excess supply of labour.
Transcribed Image Text:Price Level QUESTION 23 AS Pa AD 3. Real GDP FIGURE 24-2 Refer to Figure 24-2. If the economy is currently in a short-run equilibrium at Y 1, the economy is experiencing O a longrun equilibrium. O a recessionary output gap. an inflationary output gap. O potential output growth. O an excess supply of labour.
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