An Inflationary Gap Will Occur When

question 79

Multiple Choice

An inflationary gap will occur when

• A)real GDP exceeds nominal GDP.
• B)nominal GDP exceeds real GDP.
• C)real GDP exceeds potential GDP.
• D)potential GDP exceeds real GDP

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Definitions:

Heritability

A measure of how much genetic factors contribute to the differences in a trait among individuals within a population.

Heuristic

A problem-solving approach using practical methods or shortcuts to generate satisfactory, though not always optimal, solutions.

Algorithm

A step-by-step procedure or formula for solving a problem or accomplishing some end within a finite number of steps.

Ethnic Minority

A group of people who have different national or cultural traditions from the main population within a country or region.