In the above figure, the short-run aggregate supply curve is SAS and the aggregate demand curve is AD. A recessionary gap exists
A) if the long-run aggregate supply curve is LAS1.
B) if the long-run aggregate supply curve is LAS2.
C) if the long-run aggregate supply curve is LAS3.
D) All of the above answers are correct.
C
Economics
You might also like to view...
What kind of economic activity, involving the purchase of stocks rather than physical assets, has skyrocketed in the global market?
a. portfolio investment b. floating exchange rate c. agricultural exportation d. competitive devaluation
Economics
Assets minus liabilities equals
A) implicit costs. B) accounting profit. C) economic profit. D) net worth.
Economics