Over Short Periods of Time,producers Typically Vary Production at Preset

question 95

Multiple Choice

Over short periods of time,producers typically vary production at preset prices to meet changes in demand.This means that when economy-wide demand decreases,actual output ________ potential output and creates a(n) ________;and when economy-wide demand increases actual output ________ potential output and creates a(n) _________.

• A) falls below;recessionary gap;rises above;expansionary gap
• B) falls below;expansionary gap;rises above;recessionary gap
• C) rises above;expansionary gap;falls below;recessionary gap
• D) rises above;recessionary gap;falls below;expansionary gap
• E) falls below;expansionary gap;falls below;recessionary gap

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