題組內容

四、 (30%)


The table above shows Yellowland's economy aggregate demand and supply schedules. Yellowland's potential GDP is $300 billion.

4. Is Yellowland's short-run macroeconomic equilibrium a full-employment equilibrium, below full-employment equilibrium, or above full-employment equilibrium? What is the recessionary gap (if any)? What is the inflationary gap (if any)?(5%)