An output gap where equilibrium GDP is below the full employment level is more likely to be associated with:

Name: An output gap where equilibrium GDP is below the full employment level is more likely to be associated with:
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An output gap where equilibrium GDP is below the full employment level is more likely to be associated with a recession. This is because a recession is a period of economic decline, and during a recession, output is typically below its potential level.

An Output Gap Where Equilibrium GDP Is Below the Full