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Draw a representation of the business cycle. a. Identify the various phases of the business cycle (both long run and short run) on your drawing. b. Explain what happens to real GDP,
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The economy represented by the above graph is experiencing a(n): a. monetary gap. b. structural gap. c. recessionary gap. d. inflationary gap. | Homework.Study.com
![In the business cycle phase marked B, economists expect O full employment. O inflation to be high. O economic growth to slow down. O consumer sales to decrease rapidly. | Homework.Study.com In the business cycle phase marked B, economists expect O full employment. O inflation to be high. O economic growth to slow down. O consumer sales to decrease rapidly. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/capture5011799704485381897.png)
In the business cycle phase marked B, economists expect O full employment. O inflation to be high. O economic growth to slow down. O consumer sales to decrease rapidly. | Homework.Study.com
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The Multiplier Effect and the Recessionary and Inflationary Gaps – Principles of Economics: Scarcity and Social Provisioning (2nd Ed.)
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Inflationary Gap - Key Takeaways An inflationary gap is a macroeconomic concept that measures the - Studocu
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