The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 

A. recessionary; A
B. recessionary; C
C. recessionary; B
D. expansionary; A

Answer: D

Economics

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According to the text, ________ is perhaps the most critical aspect of a country's economic performance

A) the unemployment rate B) growth in GDP C) the inflation rate D) the living standard

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Economists who have studied economic growth find strong evidence of convergence

Indicate whether the statement is true or false

Economics