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Exhibit 14A-3  Macro AD-AS Model in Exhibit 14A-3, the Level

question 45

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Exhibit 14A-3  Macro AD-AS Model Exhibit 14A-3  Macro AD-AS Model In Exhibit 14A-3, the level of real GDP associated with Y<sub>1</sub>: A) is equal to potential real GDP. B) is an inflationary gap real GDP. C) is a long-run equilibrium. D) is caused by flexible wages and prices. In Exhibit 14A-3, the level of real GDP associated with Y1:

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