When Actual Output Is Greater Than Potential Output There Is

question 122

Multiple Choice

When actual output is greater than potential output there is a(n) :

• A)budget deficit.
• B)budget surplus.
• C)expansionary gap.
• D)recessionary gap.

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Definitions:

Beneficiary

An individual or entity chosen to receive benefits or assets from a will, insurance policy, or trust.

Coinsurance

An insurance policy provision under which the insurer and the insured share costs, after the deductible is met, according to a specific formula.

Insured

A person or entity covered by an insurance policy, protecting them against financial loss from specified risks.

Insurer

A company or entity that provides insurance coverage to policyholders in exchange for premiums.