If Actual GDP Is $340 Billion and There Is a Positive

question 121

Multiple Choice

If actual GDP is $340 billion and there is a positive GDP gap of $20 billion, potential GDP is

• A) $360 billion.
• B) $660 billion.
• C) $320 billion.
• D) $20 billion.

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Definitions:

Lowest Terms

Refers to the simplest form of a fraction where the numerator and denominator are reduced to their smallest possible numbers.

Products

Goods or services offered by a business to customers, often categorized based on their nature, usage, or benefits.

Fractions

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Lowest Terms

Refers to a fraction that has been reduced to its simplest form, where the numerator and denominator are as small as possible and have no common factors other than 1.