The difference between the _____ and _____ is the output gap.
A) actual; potential GDP
B) actual; potential GDP.
C) potential; actual unemployment
D) potential; actual unemployment.
E) actual; potential inflation
F) actual; potential inflation.
G) actual; potential wages.
H) actual; potential wages
Correct Answer:
Verified
Q117: Suppose that the equilibrium unemployment rate is
Q118: Suppose that the equilibrium unemployment rate is
Q119: Explain how the output gap is related
Q120: A negative output gap implies an unemployment
Q121: The short-term fluctuations in economic activity are
Q123: If output and employment both rise over
Q124: Okun's law suggests that a _ increase
Q125: According to current estimates of Okun's law,
Q126: The equilibrium unemployment rate is 4%, and
Q127: The idea that a 1% increase in
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