Examlex
The first thing you must do when creating a new data source is ____.
Inflationary Gap
The difference between the actual output of an economy and the output it would produce without inflation, indicating an overheated economy.
Recessionary Gap
A situation where the real GDP is lower than the potential GDP at full employment, indicating underutilized resources.
Inflationary Gap
A scenario where aggregate demand exceeds aggregate supply at the level of full employment, leading to an increase in general price levels.
Equilibrium GDP
The level of Gross Domestic Product where aggregate supply equals aggregate demand, indicating an economy in balance without tendency to change.
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