In the aggregate supply and demand? model

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Reference no: EM131388143

-In the aggregate supply and demand? model, in long run equilibrium

A. the economy is producing at the full employment level.

B. the unemployment rate equals the natural rate of unemployment.

C. All of these.

D. actual real GDP equals potential real GDP.

- A recessionary gap occurs when

A. the current output level is above the full employment level of production.

B. the long run equilibrium is above the short run equilibrium.

C. actual real GDP is greater than potential real GDP.

D. All of these are true.

Reference no: EM131388143

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