If Potential Output Equals $8 Billion and Actual Output Equals

question 18

Multiple Choice

If potential output equals $8 billion and actual output equals $9 billion, then this economy has a(n) :

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

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Definitions:

Gambling

Wagering money or something of value on an event with an uncertain outcome, with the intent of winning additional money or goods.

Cheating

Acting dishonestly or unfairly in order to gain an advantage, especially in academic settings or personal relationships.

Secure Self-esteem

A form of self-esteem characterized by a positive, yet realistic view of oneself, resilience to criticism, and stability across different situations.

Athletic Successes

Achievements in the realm of physical sports and competitions.