Lumen OHM Assessment

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

What type of the GDP gap is observed in Slovenia?

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

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

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

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

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

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

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

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