When the Growth Rates of Actual and Potential GDP Diverge

question 181

Multiple Choice

When the growth rates of actual and potential GDP diverge, they usually diverge because

• A)actual GDP growth equals potential GDP growth.
• B)actual GDP growth falls below potential GDP growth.
• C)potential GDP growth rates fall below actual GDP growth rates.
• D)potential GDP growth rates fluctuate while actual GDP growth rates remain stable.

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Definitions:

Material Difference

A substantial and significant variation or discrepancy that affects the value or function of an item or agreement.

Grumbling Acceptance

Reluctant or unwilling acceptance of an outcome or condition while expressing dissatisfaction or discontent.

UCC Section 2-207

UCC Section 2-207 deals with the "battle of the forms" or how contracts and terms are treated when there is an exchange of incongruent or additional terms in business contracts.

Material Terms

The essential details and provisions of a contract that affect the rights and obligations of the parties involved.