Table 10-1 -In Table 10-1, If Full Employment Occurs at $3,400 Billion

question 224

Multiple Choice

Table 10-1
-In Table 10-1, if full employment occurs at $3,400 billion, then

• A)the economy experiences a recessionary gap of $75 billion.
• B)the economy experiences a recessionary gap of $150 billion.
• C)the economy experiences an inflationary gap of $75 billion.
• D)the economy experiences an inflationary gap of $150 billion.

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Definitions:

Lessee

A person or entity that leases or rents property from another; the counterpart to the lessor.

Landlord

The person or people that own a rented house or apartment.

Tenant

A person who rents a house or apartment.

Gross Income

The total income earned before any deductions or taxes are subtracted.