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Category > Economics Posted 17 May 2017 My Price 6.00

recessionary gap

There is an obvious recessionary gap as the current GDP hovers around $16.7 or 16.8 trillion. Since current GDP is less than potential GDP, we have a deflationary or recessionary gap. The labor force participation rate measures the part of adult working age population that constitute labor force. Current trend shows a progressive trend in last three months where it has reached 63% but overall in last 18 months or so it has fluctuated around 62.7%

 

Unemployment rate in the US is very close to its natural level,has reached its natural level in the past. Inflation is under control at 2.2%. These variables indicate that we are close to our potential but there is a definite recessionary gap.

 

NEED ANSWER FOR PART 2 PLEASE

 

Then I am suppose to draw an AD/AS graph showing the economic situation you have stated in Part One. Be sure to include the Potential GDP ( Long run As) curve on the graph. The graph should be clearly labeled. Include a paragraph which describes the graph. Bar graphs, circle graphs and the PPF are not appropriate graphs for this part.

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SuperTutor
(15)
Status NEW Posted 17 May 2017 08:05 AM My Price 6.00

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