(a) Using a graph showing aggregate demand, short-run aggregate supply, and long-run aggregate supply, illustrate an economy that faces a recessionary gap. 
(b) Explain how the recessionary gap can be eliminated and evaluate the possibilities.
Definitions:
Letters Patent Corporations
Official government documents that grant a corporation the rights and privileges to operate as a legal entity.
Public Identification
The process of disclosing or making known the identity of a person or entity in a public context.
Limited Liability
A legal structure that limits the financial responsibility of individuals (e.g., shareholders of a company) to the amount they have invested.
Corporation's Liabilities
The financial obligations or debts for which a corporation is legally responsible.
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