Which of the Following Correctly Describes the Meaning of the Expression

question 86

Multiple Choice

Which of the following correctly describes the meaning of the expression Y < Y*?

• A)actual output is less than potential output - a recessionary gap
• B)potential output is less than actual output - a recessionary gap
• C)actual output is less than potential output - an inflationary gap
• D)potential output is less than actual output - an inflationary gap

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Definitions:

Memory-span Task

A memory-span task is a cognitive test used to measure the number of items, typically words or numbers, that an individual can hold and recall in short-term memory.

Organization

An entity comprising multiple people, such as a company or society, structured to achieve a particular aim or set of goals.

Verbatim Information

Information that is repeated or conveyed in exactly the same words as originally presented or spoken.

Gist

The main or essential part of a matter; the core idea or summary of information.