In June 2024
Answer to Question #319930 in Macroeconomics for tani
Is there an inflationary or deflationary gap and what is the size?
Inflationary gap is the amount by which the actual aggregate demand exceeds aggregate supply at level of full employment whereas deflationary gap is the amount by which actual aggregate demand falls short of aggregate supply at level of full employment. The figures below show the inflationary and deflationary gaps respectively.
The question is incomplete as it is not directed to any country or region.
Thank you.
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