A Recessionary Gap and an Inflationary Gap Will Not Persist

question 215

Multiple Choice

A recessionary gap and an inflationary gap will not persist when the equilibrium level of GDP

• A)everyone who wants a job has one and firms are not looking for extra workers.
• B)frictional unemployment is 0.
• C)equals potential output.
• D)the unemployment rate is 0.

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Definitions:

Input Device

A hardware device used to input data or information into a computer or system, such as a keyboard, mouse, or sensor.

Sheets

Flat pieces of material, or in the context of software, a single page within a workbook or document.

Function Blocks

Software components in automation and control systems that encapsulate specific functions or programming logic, designed for easy reuse and integration.

Circuit Schematics

Diagrams that represent the electrical connections and functions of a circuit or system, using standardized symbols to detail the components involved and their interconnections.