Explain the Difference Between an Equilibrium Level of GDP and a Level

question 29

Essay

Explain the difference between an equilibrium level of GDP and a level of GDP that is in disequilibrium.

---

Definitions:

Continental Crust

The thick part of the Earth's crust that forms the continents, characterized by its buoyancy and primarily granitic composition.

Passive Margin

A type of continental margin that is not an active plate boundary, characterized by little volcanic and earthquake activity.

Indonesian Earthquake

A seismic event occurring in Indonesia, a country prone to earthquakes due to its location on the Pacific "Ring of Fire."

Tsunami

A large sea wave produced by uplift, subsidence, or some other disturbance of the seafloor, especially by a shallow submarine earthquake.