What is a recessionary gap characterized by?
Macro Unit 3, Question 10- Recessionary Gap and Classical Economists

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11th Grade - University
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Real output above full employment GDP
A surplus in government budget
Real output below full employment GDP
Unemployment rates between 4-6%
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic theory advocates for government intervention to address recessionary gaps?
Supply-side economics
Monetarist economics
Keynesian economics
Classical economics
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Classical economists, what role should the government play in resolving a recessionary gap?
Increase government spending
Implement monetary policy
Raise taxes
Allow market forces to adjust naturally
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do market forces help in resolving a recessionary gap according to Classical economists?
By increasing taxes
By reducing interest rates
By allowing wages and prices to fall
By increasing government spending
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the aggregate supply when wages and prices fall in a recessionary gap?
It becomes vertical
It shifts to the left
It remains unchanged
It shifts to the right
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