The language of output gaps - recessionary gaps and inflationary gaps - applies to outcomes of both demand shocks and supply shocks.
Correct Answer:
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Q250: The "No - Markets Fail Often" camp
A)
Q251: The "Yes - Markets Self-Adjust" camp argues
Q252: The language of output gaps - recessionary
Q253: The "Yes - Markets Self-Adjust" camp
A) focuses
Q254: The "No - Markets Fail Often" camp
Q256: The "No - Markets Fail Often" camp
Q257: The language of output gaps - recessionary
Q258: The "Yes - Markets Self-Adjust" camp argues
Q259: The "Yes - Markets Self-Adjust" camp argues
Q260: Negative and positive demand shocks cannot happen
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