The Output Gap Is the Difference Between

question 15

Multiple Choice

The output gap is the difference between

• A) the market-clearing level of output and the actual level of output, Ym - Y*.
• B) output demand and output supply.
• C) nominal output and real output.
• D) the Bank of Canada's output target and the market-clearing level of output.
• E) current and future total factor productivity.

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