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Summarize the process, or shifts in the Aggregate Demand Curve and Short Run Aggregate Supply Curve, for closing a recessionary gap if the economy is self-regulating…. Or using Neoclassical Economics.

Respuesta :

A recessionary gap has low prices and high unemployment and the gap can be closed by expansionary fiscal or monetary policy.

What is recessionary gap?

It should be noted that a recessionary gap simply occurs when the real GDP of a country us lower than the GDP at full employment.

In this case, a recessionary gap has low prices and high unemployment and the gap can be closed by expansionary fiscal or monetary policy.

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