Refer to the Following Figure When Answering the Following Questions

question 24

Multiple Choice

Refer to the following figure when answering the following questions.
Figure 9.4: Phillips Curve
-Consider the Phillips curve at in Figure 9.4. The economy is:

• A)booming.
• B)inflationary.
• C)in recessionary gap.
• D)at potential output.
• E)Not enough information is given to determine.