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2.5 Economic growth

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Question 24

Illustrate a negative (recessionary) output gap on the diagram below by drawing and labeling a Long-Run Aggregate Supply (LRAS) curve.

An AS-AD model diagram with Price Level on the vertical axis and Real National Output (Y) on the horizontal axis.

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2.5 Economic growth Questions

  1. A Level
  2. /Economics
  3. /2.5 Economic growth