![22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics 22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/d40e454e38f488401fe10479d750c36c.jpg)
22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
![22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics 22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/7b62fdbf653dfcb85fd08b78b15b6275.jpg)
22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
![22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics 22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/31e6488993c5b56a066593d5cd5d2724.jpg)
22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium – Principles of Economics
![1. A recessionary gap occurs when a. The short run aggregate supply curve shifts rightward. b. Real GDP is less than potential GDP. c. The economy is at its long run equilibrium. 1. A recessionary gap occurs when a. The short run aggregate supply curve shifts rightward. b. Real GDP is less than potential GDP. c. The economy is at its long run equilibrium.](https://homework.study.com/cimages/multimages/16/recessionary_ga7808462053120917794.png)
1. A recessionary gap occurs when a. The short run aggregate supply curve shifts rightward. b. Real GDP is less than potential GDP. c. The economy is at its long run equilibrium.
![Suppose an economy has an inflationary gap. a. Illustrate this using a graph with LRAS, SRAS, and AD curves. Identify the equilibrium price level, real GDP, and the output gap in your Suppose an economy has an inflationary gap. a. Illustrate this using a graph with LRAS, SRAS, and AD curves. Identify the equilibrium price level, real GDP, and the output gap in your](https://homework.study.com/cimages/multimages/16/screen_shot_2019-06-20_at_8.43.07_pm1393403819000336944.png)
Suppose an economy has an inflationary gap. a. Illustrate this using a graph with LRAS, SRAS, and AD curves. Identify the equilibrium price level, real GDP, and the output gap in your
![Draw and aggregate supply and aggregate demand graph showing a recessionary gap. Explain how the interventionists would restore long-run equilibrium. | Homework.Study.com Draw and aggregate supply and aggregate demand graph showing a recessionary gap. Explain how the interventionists would restore long-run equilibrium. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/nishant18423959047229151767841.jpg)
Draw and aggregate supply and aggregate demand graph showing a recessionary gap. Explain how the interventionists would restore long-run equilibrium. | Homework.Study.com
![What is the recessionary gap and inflationary gap? Explain the following concepts in detail. Use formulas or diagrams that could complete your description. | Homework.Study.com What is the recessionary gap and inflationary gap? Explain the following concepts in detail. Use formulas or diagrams that could complete your description. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/rigaps2220435061622489400.jpg)