Suppose AD and SRAS Intersect to the Left of LRAS

question 40

Multiple Choice

Suppose AD and SRAS intersect to the left of LRAS.Which of the following is true?

• A) The economy is in a recessionary gap.
• B) The economy is in an inflationary gap.
• C) The economy is in a long-run equilibrium.
• D) This situation is actually impossible.

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