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  3. 4 a. explain the two ways that an economy could cl

4 a. Explain the two ways that an economy could close an inflationary gap. Explain what...

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Economics

4 a. Explain the two ways that an economy could close aninflationary gap. Explain what happened to price and GDP in eachsolution. Which “solution” created lower prices? List a pro and conof each “solution”.

b. What policy would you put into effect to help reduce theinflationary gap in an economy like Canada? How would businessesand/or Canadians be effected?

Answer & Explanation Solved by verified expert
3.6 Ratings (420 Votes)
A The inflationary gap happen when there is a gap between aggregate demand and aggregate supply There is to close this inflationary gap the government take mainly some fiscal and monetary    See Answer
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