AP Macroeconomics Question 156: Answer and Explanation
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10. Study the diagram below.
- A. It is incorrect since Qf can never be to the left of QI.
- B. It is incorrect because AD should slope upward and AS should slope down.
- C. It portrays a recessionary gap.
- D. It portrays an inflationary gap.
- E. It portrays Phillips curves.
Correct Answer: D