The short-run and long-run effects on the economy when the policymakers assume that the economy is overheating
Introduction:
Natural Rate of
Aggregate Demand: The amount of goods and services purchased at all possible prices at a given point of time is termed as Aggregate Demand
Recessionary Gap: When the economy operates below its potential output is termed as the Recessionary Gap.
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ECON MACRO
- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning