Refer to the above figure. If the current level of real GDP is $13 trillion, then the economy is experiencing
A. a fiscal deficit gap.
B. a deflationary gap.
C. an inflationary gap.
D. a recessionary gap.
Answer: C
Economics
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A) costs of negotiating contracts with other firms. B) cost of enforcing contracts. C) the existence of asset-specificity. D) All of the above
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