The Output Gap Is

question 223

Multiple Choice

The output gap is

• A)negative if potential GDP is smaller than real GDP.
• B)a measure of potential output.
• C)negative if potential GDP is larger than real GDP.
• D)constant throughout the business cycle.
• E)shrinking all the time.

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Definitions:

Parafollicular Cells

Cells in the thyroid gland that produce calcitonin, a hormone involved in calcium and phosphate metabolism.

Calcitonin

A hormone secreted by the thyroid gland that helps regulate calcium levels in the blood.

Blood Calcium

The level of calcium ions in the bloodstream, critical for various bodily functions including bone health, nerve transmission, and muscle function.

Neuroendocrine Cells

Cells that receive neuronal input and as a response, release message molecules (hormones) into the blood, functioning both as neurons and endocrine cells.