Examlex
Which statement about systematics is true?
Balanced Budget
When federal tax receipts equal federal government spending.
Constitutional Amendment
A formal change or addition proposed and ratified according to the procedures specified in a constitution, altering the document's framework or principles.
Recessionary Gap
The difference between the actual output of an economy and its potential output if all resources were employed at their maximum efficiency during a recession.
Equilibrium GDP
The level of gross domestic product at which aggregate supply equals aggregate demand, indicating a balance in the economy without any external pressures to change.
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