In: Economics
19)In a recessionary gap the SRAS and AD intersect to the ____ of the LRAS. The most recent recession as officially recorded by the NBER in the U.S. has been the______.
Select one:
a. left; the 1994 recession
b. right; the 1991 recession
c. left; the current COVID recession
d. left; the 2001 recession
correct answer : option d. Us recorded 42 recessions, average duration of 11 recessions between 1945 and 2001 is 10 months. In a recessionary gap the sras and ad intersects left of the lras. Due to the current corona pandemic us gdp shrank 4.7℅, but it doesn't largely affected to people, where previous recessions recorded large unemployment and economic loss