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When actual output (where AD and SRAS intersect) is greater than LRAS, this is a(n) (Click to select) gap. recessionary gap is when actual output (where AD and SRAS intersect) is (Click to select) LRAS.

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The situation where the actual output (where AD and SRAS intersect) is less than LRAS, this is an example of an inflationary gap.

What is an inflationary gap?

An inflationary gap refers to the difference between the real GDP and the full-employment real GDP. It is also called an expansionary gap.

The recessionary gap is when actual output (where AD and SRAS intersect) is less than LRAS.

What is recessionary gap?

A recessionary gap refers to the situation that occur when the country's real GDP is lower than its GDP at full employment.

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