At long-run macroeconomic equilibrium, ________.
A. an inflationary gap exists
B. real GDP equals potential GDP
C. a recessionary gap exists
D. real GDP is less than potential GDP but is as close as it is possible to be
Answer:B
At long-run macroeconomic equilibrium, ________.
A. an inflationary gap exists B. real GDP equals potential GDP C. a recessionary gap exists D. real GDP is less than potential GDP but is as close as it is possible to be