[Solved] Use the Following to Answer Questions

Question 227
Multiple Choice

Use the following to answer questions: img
-(Figure: An Increase in Aggregate Demand)Refer to Figure: An Increase in Aggregate Demand.At the Y2 level of real GDP:

A) an inflationary gap equal to the sum of Y2 and YP occurs.
B) an inflationary gap equal to the difference between Y2 and YP occurs.
C) the solution at Y2 is a long-run equilibrium.
D) a recessionary gap equal to the difference between Y2 and YP occurs.

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