When the Actual Level of Output Is Less Than the Potential

question 26

True/False

When the actual level of output is less than the potential level of output, there is an output gap, sometimes called a recessionary gap.

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Definitions:

E-Commerce

The buying and selling of goods and services over the internet.

E-tailing

Electronic retailing or online shopping, which is the sale of goods and services through the internet.

E-procurement

Electronic procurement refers to the process of purchasing goods or services for a business using online platforms or technology.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to immediately generate cash.