Aggregate demand and aggregate supply

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Question 46
Easy

An economy is producing at a short-run equilibrium of Y1 Y_1\,Y1​ and P1P_1P1​, as shown in the diagram below.

AD-AS Diagram

What is the economy experiencing at this equilibrium point?

Positive output gap

Negative output gap

Full employment equilibrium

Stagflation

Aggregate demand and aggregate supply Questions

  1. A Level
  2. /Economics
  3. /Aggregate demand and aggregate supply