Lumen OHM Assessment

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The graph below shows the AD-AS diagram for Mexico.

What type of the GDP gap is observed in Mexico?

The economy is facing a recessionary gap.
The economy is facing an inflationary gap.
There is no recessionary or inflationary gap.

Hint

The graph below shows the AD-AS diagram for Slovenia.

What type of fiscal policy should the government of Slovenia be implementing to bring the economy to the long-run equilibrium?

The government should implement expansionary fiscal policy.
There is no need for either contractionary or expansionary fiscal policy.
The government should implement contractionary fiscal policy.

Hint

The graph below shows the AD-AS diagram for the US.

What type of fiscal policy should the government of the US implement to bring the economy to the long-run equilibrium?

The FED should implement expansionary monetary policy.
The FED should implement contractionary monetary policy.
There is no need for either contractionary or expansionary monetary policy.

Hint

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