In the figure above, the ________ gap is equal to ________
A) recessionary; $1 trillion
B) inflationary; $1 trillion
C) recessionary; $12 trillion
D) inflationary; $12 trillion
E) recessionary; $13 trillion
A
Economics
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A closed economy is one in which exports and imports constitute a large share of GDP.
Answer the following statement true (T) or false (F)
Economics
Refer to the accompanying figure. Assume the market is originally at point W. Movement to point Y is the result of:
A. a decrease in supply and an increase in quantity demanded. B. an increase in supply and an increase in demand. C. an increase in demand and an increase in quantity supplied. D. an increase in supply and an increase in quantity demanded.
Economics