When the Current State of the Economy Is Such That

question 11

Multiple Choice

When the current state of the economy is such that Real GDP is equal to Natural Real GDP,the economy is in ____________________ .In this situation,the (actual) unemployment rate is ___________ the natural unemployment rate,and there is ________________ in the labor market.

• A) long-run equilibrium; equal to; equilibrium
• B) inflationary; less than; a shortage
• C) long-run equilibrium; greater than; equilibrium
• D) recessionary; greater than; a surplus
• E) recessionary; less than; equilibrium

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