In Macroeconomics, the "Output Gap" Is the Difference Between

question 13

Multiple Choice

In macroeconomics, the "output gap" is the difference between

• A)output in the current year and output in the base year.
• B)potential real national income and actual real national income.
• C)output and employment.
• D)real GNP and real GDP.
• E)real and nominal national income.

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Definitions:

Secure Location

A place that has been made safe against unauthorized access, attack, or other threats.

Checking Account

A bank account that allows the depositor to withdraw funds using checks or electronic debit, traditionally used for daily transactions.

Stale Check

A check that has not been cashed or deposited within a specified time, usually six months, making it void or invalid.

Bank

A financial institution that accepts deposits, offers various accounts, provides loans, and offers other financial services to individuals and businesses.