The table below shows data for India's economy. Real GDP is measured in millions of rupees

Price level Real GDP
supplied in the short run Real GDP demanded
a 114 23,501 35,898
b 120 25,355 32,341
c 125 27,670 27,670
d 131 30,366 18,569
e 138 33,164 15,898

If potential GDP in India is ________ million rupees, India is experiencing ________.
A) 26,500; an inflationary gap
B) 28,500; an above-full-employment gap
C) 26,500; a recessionary gap
D) 30,000; a potential GDP gap


A

Economics

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Economics