-What is the current equilibrium price level and real GDP for the economy illustrated in the figure above? Does this economy have an inflationary gap,a recessionary gap,or neither? As it adjusts toward full employment,which curve shifts? What is the equilibrium real GDP and price level that the economy will ultimately reach?

Question

Quizplus · Accepted Answer

The Answer of 
-What is the current equilibrium price level and real GDP for the economy illustrated in the figure above? Does this economy have an inflationary gap,a recessionary gap,or neither? As it adjusts toward full employment,which curve shifts? What is the equilibrium real GDP and price level that the economy will ultimately reach?

-What Is the Current Equilibrium Price Level and Real GDP