The difference between actual output and potential output is referred to as an _______ gap.
Feedback:The difference between what an economy can produce and what it is producing is known as an output gap. This gap can be both positive and negative.
Correct Answer:
Verified
Q4: Economic growth is most likely to be
Q5: Economic growth must mean an increase in:
A)
Q6: Which of the following is not a
Q7: Government intervention can make the economy more
Q8: Economic growth can be shown by an
Q9: Changes in particular variables flag up future
Q10: Economic growth occurring due to a movement
Q11: Which of the following would not cause
Q13: A negative output gap is associated with
Q14: To improve the quality of labour the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents