with less than 50 words can you answer this question for me? How can you tell...

Question

Question

with less than 50 words can you answer this question for me?

How can you tell if the economy is in equilibrium? How could you estimate the GDP gap?

Answer 1

Answer #1

An economy is in equilibrium when planned expenditure is equal to actual expenditure,such that Y*=C+I+G+NX.

A GDP gap is the difference between planned experience and actual expenditure.

Answer 2

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