The table below shows the aggregate equilibrium for the country of Nickeltown. Aggregate Data Year Nickeltown Potential Aggregate Output Current Aggregate Output Price Level 2002 2003 in billions 400 300 In 2002, Nickeltown experienced a ORecessionary gap OInflationary gap in billions 300 90 200 95 OPotential equilibrium What would be an appropriate action for the government of Nickeltown to take? ORaise taxes OIncrease government spending ONothing

The table below shows the aggregate equilibrium for the country of Nickeltown. Aggregate Data Year Nickeltown Potential Aggregate Output Current Aggregate Output Price Level 2002 2003 in billions 400 300 In 2002, Nickeltown experienced a ORecessionary gap OInflationary gap in billions 300 90 200 95 OPotential equilibrium What would be an appropriate action for the government of Nickeltown to take? ORaise taxes OIncrease government spending ONothing

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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