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Exhibit 10-12 -Consider Exhibit 10-12.Aggregate Demand Is Represented by AD₀ and the AD₀

question 176

question 176

Multiple Choice

Exhibit 10-12 Exhibit 10-12 -Consider Exhibit 10-12.Aggregate demand is represented by AD<sub>0</sub> and the aggregate supply is AS<sub>100</sub> since the expected price level is 100.Which of the following describes the current situation for this economy? A) an expansionary gap exists B) a recessionary gap exists C) a long-run equilibrium exists D) an employment gap exists E) an economic growth gap exists
-Consider Exhibit 10-12.Aggregate demand is represented by AD₀ and the aggregate supply is AS₁₀₀ since the expected price level is 100.Which of the following describes the current situation for this economy?

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