Answer to Question #2352 in Macroeconomics for eli
Question #2352
The inflationary GDP gap differs from the AD excess when:
The aggregate supply curve is horizontal.
There is a time lag in the implementation of fiscal policy.
The multiplier effect raises spending.
The aggregate supply curve slopes upward.
The aggregate supply curve is horizontal.
There is a time lag in the implementation of fiscal policy.
The multiplier effect raises spending.
The aggregate supply curve slopes upward.
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