The Output Gap Is the Difference Between

question 57

Multiple Choice

The output gap is the difference between

• A) the market-clearing level of output and the actual level of output, Ym-Y*.
• B) output demand and output supply.
• C) nominal output and real output.
• D) the Bank of Canada's output target and the market-clearing level of output.
• E) current and future total factor productivity.

---

Definitions:

Skinner

B.F. Skinner, a renowned psychologist known for his work in behaviorism and for developing the theory of operant conditioning.

Psychoanalytic Theory

A psychological perspective pioneered by Freud that focuses on unconscious processes and childhood experiences affecting personality and behavior.

Freud

Sigmund Freud, an Austrian neurologist who founded psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Psychology

This is the scientific study of the mind and behavior, encompassing various aspects of conscious and unconscious experience as well as thought processes.