Which of the Following Correctly Describes the Meaning of the Expression

question 74

Multiple Choice

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

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

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Definitions:

Companywide

Pertaining to or affecting all parts of a business or the entire company.

Possession Utility

The value or usefulness that comes from a consumer being able to possess a product, enabling its use when and where the consumer wishes.

Ownership Utility

The added value or satisfaction a consumer obtains from owning a product and being able to use it as desired.

Form Utility

The value added to products through the process of transformation, creating a more desirable product for consumers.