An Inflationary Output Gap Occurs When

question 34

Multiple Choice

An inflationary output gap occurs when

• A)actual GDP exceeds potential GDP.
• B)nominal GDP exceeds real GDP.
• C)demand for labour services is very low.
• D)equilibrium national income is below potential national income.
• E)potential GDP exceeds actual GDP.

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Definitions:

Prearranging

Arranging funerals in advance of need. This process can include selecting merchandise, planning the service, determining the method of viewing and final disposition, and selecting persons to be involved in the funeral.

Prefunding

Legally committing money to pay for the funeral service.

Embalming

A process of preserving a deceased body to delay decomposition, typically involving the use of chemicals.

Funeral Expenses

The costs associated with conducting a funeral, which may include fees for a funeral home's services, burial or cremation, and memorial services.