If Potential Output Equals $5 Billion and Actual Output Equals

question 61

Multiple Choice

If potential output equals $5 billion and actual output equals $6.5 billion,then this economy has a(n)

• A) budget deficit.
• B) trade deficit.
• C) expansionary gap.
• D) recessionary gap.
• E) value-added gap.

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Definitions:

Cross-functional

Involves collaboration among team members with different expertise and from various departments within an organization to achieve common goals.

Virtual Teams

Groups of people who work together across time, physical space, and organizational boundaries via electronic communication technologies.

Uniqueness Advantage

A competitive advantage that a company or entity possesses due to its unique characteristics, making it stand out in the market.

Organizational Boundaries

The defined edges that distinguish the scope, responsibilities, and operations of an organization from its environment.