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ratelena [41]
3 years ago
11

The formula for the ressionary gap is​

Law
1 answer:
aleksley [76]3 years ago
7 0

Answer: There is a recessionary gap equal to Y P − Y 1. In Panel (a),

Explanation:  the economy closes the gap through a process of self-correction. Real and nominal wages will fall as long as employment remains below the natural level. Lower nominal wages shift the short-run aggregate supply curve.

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