The difference between the economy's actual output and its potential output at a point in time is called the

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The difference between the economy's actual output and its potential output at a point in time is called the output gap. A) Budget deficit refers to the difference between the government's revenue and expenditure. B) Trade deficit refers to the difference between a country's imports and exports. D) Full-employment rate is the percentage of people who are willing and able to work that are employed. E) Cyclical peak refers to the highest point of growth in a business cycle.

The Difference Between the Economy's Actual Output and Its Potential