Lumen OHM Assessment

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

What type of the GDP gap is observed in the US?

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

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

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

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

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.

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x

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