The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place. AS AD LAS Price level O 340 360 380 400 420 440 460 a. The size of its recessionary gap is $ b. The size of this gap as a percentage of its actual GDP is 500 520
The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal place. AS AD LAS Price level O 340 360 380 400 420 440 460 a. The size of its recessionary gap is $ b. The size of this gap as a percentage of its actual GDP is 500 520
Chapter9: Demand-side Equilibrium: Unemployment Or Inflation?
Section: Chapter Questions
Problem 7TY
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![The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal
place.
AS
AD
LAS
340 360 380 400 420 440 460 480 500 520
Price level
a. The size of its recessionary gap is $
b. The size of this gap as a percentage of its actual GDP is](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6eb6fca4-2d91-4a51-a8a8-6f4c64a9799e%2F540813ba-d1d0-44e8-835b-2afae5768f2f%2Fn5aoq9s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The figure below depicts the economy of Altrua, which is presently in equilibrium. Enter your responses below rounded to one decimal
place.
AS
AD
LAS
340 360 380 400 420 440 460 480 500 520
Price level
a. The size of its recessionary gap is $
b. The size of this gap as a percentage of its actual GDP is
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