At a Peak in the Business Cycle,the Macroeconomic Equilibrium Is

question 145

Multiple Choice

At a peak in the business cycle,the macroeconomic equilibrium is ________ the level of potential real GDP.

• A)greater than
• B)equal to
• C)less than
• D)falling below
• E)None of the above answers is always correct because the relationship depends on whether the previous phase of the business cycle had been a recession or an expansion.

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