The output gap is the difference between
A) the market-clearing level of output and the actual level of output, Ym - Y*.
B) output demand and output supply.
C) nominal output and real output.
D) the Bank of Canada's output target and the market-clearing level of output.
E) current and future total factor productivity.
Correct Answer:
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Q2: In the New Keynesian model, the output
Q3: The Yd(IS)curve is downward sloping to reflect
Q4: The main difference between the New Keynesian
Q5: In 1936, Keynes described his views on
Q6: In the long run, most Keynesians believe
A)
Q7: The New Keynesian model has the property
Q8: An important feature of the New Keynesian
Q9: Most central banks, including the Bank of
Q10: New Keynesian economics refers to
A) the monetarist
Q11: The key difference between Keynesian and Classical
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