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The Output Gap Shows the Deviation of Actual Output from Potential

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The output gap shows the deviation of actual output from potential output and it


Definitions:

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Precipitation in the form of flakes of crystalline water ice, falling from clouds when air temperatures are below the freezing point of water.

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The twelfth and final month of the year in the Gregorian calendar, associated with winter in the Northern Hemisphere and summer in the Southern Hemisphere.

Standard Deviation

A statistic that quantifies the dispersion of dataset relative to its mean, showcasing how spread out the data points are.

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The average lifespan of a shoe, measured by duration of usage before it becomes unwearable, typically calculated from a sample.

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