In the first quarter of 2009, real GDP was $1292 billion and potential GDP was $1331 billion (both measured in 2002 dollars). This was a recessionary gap.

Name: In the first quarter of 2009, real GDP was $1292 billion and potential GDP was $1331 billion (both measured in 2002 dollars). This was a recessionary gap.
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A recessionary gap occurs when actual GDP is lower than potential GDP, which is the case when real GDP is below potential GDP.

In the First Quarter of 2009, Real GDP Was $1292