{
  "id": "recessionary-gap-keynesian",
  "name": "Recessionary (deflationary) gap — Keynesian",
  "unit": "macro",
  "unitName": "Unit 3 · Macroeconomics",
  "topic": "AD/AS model",
  "hl": false,
  "description": "AD intersects the Keynesian AS below full-employment output; with sticky wages the economy can remain stuck there unless AD increases.",
  "keywords": [
    "recessionary gap",
    "deflationary gap",
    "Keynesian",
    "spare capacity",
    "demand-deficient unemployment",
    "Yfe"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/recessionary-gap-keynesian",
  "previewUrl": "https://graphs.lectere.com/thumbs/recessionary-gap-keynesian.svg",
  "editorUrl": "https://graphs.lectere.com/graph/recessionary-gap-keynesian/",
  "params": [
    {
      "key": "pos",
      "label": "Equilibrium in",
      "default": "flat",
      "type": "enum",
      "options": [
        {
          "value": "flat",
          "label": "Horizontal range"
        },
        {
          "value": "mid",
          "label": "Upward-sloping range"
        }
      ]
    },
    {
      "key": "policy",
      "label": "Show AD increase to full employment",
      "default": false,
      "type": "boolean"
    },
    {
      "key": "gap",
      "label": "Show the recessionary gap",
      "default": true,
      "type": "boolean"
    }
  ],
  "defaults": {
    "pos": "flat",
    "policy": false,
    "gap": true
  },
  "panels": [
    {
      "id": "main",
      "title": null,
      "xLabel": "Real GDP",
      "yLabel": "Average price level",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "main:x",
        "y": "main:y"
      }
    }
  ],
  "labels": [
    {
      "key": "main:y",
      "default": "Average price level",
      "hint": "Vertical axis",
      "panel": "main"
    },
    {
      "key": "main:x",
      "default": "Real GDP",
      "hint": "Horizontal axis",
      "panel": "main"
    },
    {
      "key": "main.as",
      "default": "AS",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.ad1",
      "default": "AD",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.e1:y",
      "default": "PL",
      "hint": "Vertical-axis value",
      "panel": "main"
    },
    {
      "key": "main.e1:x",
      "default": "Y_1",
      "hint": "Horizontal-axis value",
      "panel": "main"
    },
    {
      "key": "main.yfe",
      "default": "Y_{fe}",
      "hint": "Axis mark",
      "panel": "main"
    },
    {
      "key": "main.gap",
      "default": "recessionary gap",
      "hint": "Arrow / line",
      "panel": "main"
    }
  ],
  "elements": [
    {
      "key": "main.as",
      "kind": "curve",
      "label": "AS"
    },
    {
      "key": "main.ad1",
      "kind": "curve",
      "label": "AD"
    },
    {
      "key": "main.e1",
      "kind": "point"
    },
    {
      "key": "main.yfe",
      "kind": "tick",
      "label": "Y_{fe}"
    },
    {
      "key": "main.gap",
      "kind": "line",
      "label": "recessionary gap"
    }
  ],
  "stats": null,
  "example": {
    "template": "recessionary-gap-keynesian",
    "params": {
      "pos": "flat",
      "policy": false,
      "gap": true
    }
  }
}