19)In a recessionary gap the SRAS and AD intersect to the ____ of the LRAS. The...

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

Solutions

Expert Solution

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

Rahul Sunny answered 1 year ago

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