able[[ able[[Price level],[(GDP defl at or)]], able[[Potential GDP],[(billions of 2009 dollars)]], able[[Real GDP supplied],[(billions of 2009 dollars)]], able[[Real GDP demanded],[(billions of 2009 dollars)]]],[150,25,34,16],[140,25,31,19],[130,25,28,22],[120,25,25,25],[110,25,23,28]]
The table above gives data for the nation of Pearl, a small island in the South Pacific. If aggregate demand increases so that the quantity of real GDP demanded is $6 billion more at each price level, the new equilibrium real GDP is and the nation is now experiencing a(n) q,
$22 billion; inflationary gap
$22 billion; recessionary gap
$28 billion; inflationary gap
$28 billion; recessionary gap
$25 billion; equilibrium
Price level Potential GDP Real GDP supplied Real GDP demanded GDP deflator) billions of 2009 dollars) (billions of2009 dollars(billions of 2009 dollars) 150 25 34 16 140 25 31 19 130 25 28 22 120 25 25 25 110 25 23 28
The table above gives data for the nation of Pearl, a small island in the South Pacific If aggregate demand increases so that the quantity of real GDP demanded is $6 billion more at each price level, the new equilibrium real GDP is ,and the nation is now experiencing a(n)
$22 billion; inflationary gap
$22 billion;recessionary gap
$28 billion; inflationary gap
$28 billion; recessionary gap
$25 billion;equilibrium