Economics JAMB

The deflationary gap is defined by?

A. X
B. K
C. X + K
D. X – K

Correct Answer:

Option B = K

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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