Deviations in National Output Around Potential Output Are Called a

question 4

Multiple Choice

Deviations in national output around potential output are called a

• A) business cycle.
• B) price index.
• C) Keynesian equilibrium.
• D) market phase.
• E) theory.

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Definitions:

Scatterplot

A graph in which the values of two variables are plotted along two axes, the pattern of points revealing any correlations present.

Correlation

A numerical metric that illustrates the degree to which two variables move in tandem, demonstrating the intensity and orientation of their association.

Hot Chocolate

A warm beverage made from melted chocolate or cocoa powder mixed with milk or water and sugar.

Wheat Yield

defines the amount of wheat produced per unit area of land.