Recessionary Gaps Are

question 26

Multiple Choice

Recessionary gaps are:

• A) efficient.
• B) inefficient.
• C) periods when actual output exceeds potential output.
• D) the result a decrease in the growth rate of potential output.

---

Definitions:

Standard Deviation

A means of gauging the extent of distribution or variation within a group of data.

Bacteria

Bacteria are microscopic, single-celled organisms that can be found in virtually all environments and can be beneficial, neutral, or harmful to other forms of life.

Standard Normal Distribution

The standard normal distribution is a normal distribution with a mean of 0 and a standard deviation of 1, used in hypothesis testing and probability determination.

Normal Random Variable

A variable that follows a normal distribution, characterized by its bell-shaped curve, where the mean, median, and mode are all equal.