Since 1960, in which of the following years was the output gap highest in the U.S.?

Question

Quizplus · Accepted Answer

The output gap refers to the difference between actual GDP and potential GDP or the capacity of the economy. The highest output gap in the U.S. since 1960 occurred in 1982, which followed the severe recession of 1981-1982. The output gap in that year was -5.9%, indicating that the economy was operating significantly below its potential level.

Since 1960, in Which of the Following Years Was the Output