Use the Following to Answer Questions

question 69

Multiple Choice

Use the following to answer questions:
Figure: Inflationary and Recessionary Gaps
-(Figure: Inflationary and Recessionary Gaps) Refer to Figure: Inflationary and Recessionary Gaps. If the economy is in short-run equilibrium at Y₁ in panel (a) , the economy is in:

• A) a recessionary gap.
• B) an inflationary gap.
• C) simultaneous short-run and long-run equilibrium.
• D) full employment.

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Definitions:

Memory

The faculty by which the mind stores and remembers information.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, and inhibition of nearly all voluntary muscles.

Premenstrual Syndrome

A collection of emotional symptoms, with or without physical symptoms, related to a woman's menstrual cycle.

Emotional PMS Symptoms

Emotional and behavioral symptoms associated with premenstrual syndrome, including mood swings, irritability, anxiety, and depression.