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When the macroeconomic equilibrium is such that real GDP exceeds potential real GDP, the economy is suffering from ________, and the government policy to eliminate this gap will…
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When the macroeconomic equilibrium is such that real GDP exceeds potential real GDP, the economy is suffering from ________, and the government policy to eliminate this gap will…
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Sep 11, 2018
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When the macroeconomic equilibrium is such that real GDP exceeds potential real GDP, the economy is suffering from ________, and the government policy to eliminate this gap will ________ real GDP and ________ the price level.?
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Eugen Labun
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Base on my research, the gap that is stated in the problem is the inflationary gap. This is the amount of the real GDP go beyond potential full-employment GDP. Upon eliminating this gap the government forms a policy that will allow the potential GDP to be equal to the real GDP and higher the price level.
Haseeb Akhtar
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Sep 18, 2018
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Haseeb Akhtar
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