If Actual Output Equals Potential Output,but Potential Is Growing Very

question 160

Multiple Choice

If actual output equals potential output,but potential is growing very slowly,then an economy

• A) is in a recession.
• B) is in an expansion.
• C) has an output gap.
• D) has a recessionary gap.
• E) is experiencing deflation.

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Definitions:

Standard Error

A measure of the dispersion of sample mean estimates from the population mean.

True Proportion

The actual proportion of a particular outcome within the entire population.

Confidence Interval

An estimated range of values calculated from a given set of sample data, intended to offer a degree of certainty that a population parameter lies within it.

Simple Random Sample

A smaller group taken from a larger statistical group where each individual has the same chance of selection.