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AP Macroeconomics
Unit 3 – National Income and Price Determination
Topic 3.5
Which definition best represents a recessionary gap?
A condition where an economy is producing a short-run Real GDP output that is less than its potential Real GDP at full employment
A scenario where the aggregate supply exceeds aggregate demand
A condition where an economy is producing a short-run Real GDP output that is beyond its potential Real GDP output at full employment
A condition where the price level in an economy is below its equilibrium level
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AP Macroeconomics - 3.5 Equilibrium in Aggregate Demand-Aggregate Supply (AD-AS) Model
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Recessionary Gap
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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