The deflationary gap is defined by

Economics

JAMB 2011

A. X
B. K
C. X + K
D. X - K

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Correct Answer: Option B

Explanation

A deflationary gap shows the amount by which aggregate demand must be increased so that equilibrium level of income is increased to the full employment level. It is represented by point K .

Inflationary and Deflationary Gap (With Diagram)

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The deflationary gap is defined by

Correct Answer: Option B

Explanation

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