If Full Employment GDP Is Greater Than Equilibrium GDP There

question 265

Multiple Choice

If full employment GDP is greater than equilibrium GDP there is

• A)an inflationary gap.
• B)a deflationary gap.
• C)both an inflationary gap and a deflationary gap.
• D)neither an inflationary gap nor a deflationary gap.

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Definitions:

Civil Trial

A judicial process to resolve disputes between private parties, organizations, or government entities, where the result typically involves compensation or the enforcement of rights rather than criminal penalties.

Filing an Appeal

The formal process of asking a higher court to review and change the decision of a lower court.

Procedure

A set of established forms or methods for conducting the affairs of an organization or in legal proceedings.

Paralegal

A person trained in legal matters who assists lawyers in their work but is not qualified to represent clients in court.