story Bookmaks G frictional unemployment-Gock 4, Northwest Arkansas Communi ingl

Question

story Bookmaks G frictional unemployment-Gock 4, Northwest Arkansas Communi inglearning.com/ibiscms/mod/ibis/view.php?id-6372868 Jump to... Gradebo 10/3/2018 11:55 PM A0/15 PrintCalulator uestion 3 of 15 Map Sapling Learning Suposeg hont lelaroidtu socalvwa u bga rea opp is equal to $700 ilion. According to the neoclassical view, what can you infer about Georgia's econormy? O Georgia's economy is in recession. O Georgia's economy is in long-run equilibrium. O Georgia's economy is in expansion O Georgia's economy is in full employment equilibrium. Hint Previous & Give Up&View Soulion Check Answer Next Exit ,017 24 MacBook Pro

Explanation / Answer

Answer:- Here potential GDP is $950 trillian and Real GDP is $700 trillion, it means Potential GDP is more than Real GDP, So there is a recessionary gap, it is the situation where an economy is operating at below its full-employment equilibrium.Option (a) is correct.

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