If Potential GDP for the Fourth Quarter of 2012 =

question 39

Multiple Choice

If potential GDP for the fourth quarter of 2012 = $58.5 billion,and real GDP for the fourth quarter of 2012 = $53.7 billion,then the output gap was

• A) -8.9%.
• B) -8.2%.
• C) 8.2%.
• D) 8.9%.

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Definitions:

Photoperiodic Response

The physiological reaction of organisms to the length of day or night, affecting processes such as flowering in plants and breeding in animals.

Photoperiodism

The physiological reaction of organisms to the length of day or night, often affecting flowering and reproduction.

Long-day Plant

Plants that flower only after being exposed to light periods longer than a certain critical length.

Sunflower

A large plant belonging to the daisy family, known for its large flowering heads and edible seeds.