Examlex
The ____________________ lobes of the ____________________ hemisphere excel in performance of logical, analytical, sequential, and verbal tasks, whereas the same lobes of the ____________________ hemisphere excel in nonlanguage skills such as spatial perception and artistic and musical endeavors.
Recessionary Gap
The difference between the actual level of GDP and the potential level of GDP in an economy, indicating economic underperformance.
Classical Economists
A group of 18th- and 19th-century economists who believed that economic downturns corrected themselves through natural market forces; thus, they believed the economy was self-correcting and needed no government intervention.
John Maynard Keynes
An influential British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
Expansionary Gap
A situation where actual output in an economy exceeds the potential output, leading to inflationary pressures due to high demand.
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