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question 203

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Use the following to answer questions: Use the following to answer questions:   -(Figure: Output Gap) Refer to Figure: Output Gap.If the economy is producing at Y<sub>1</sub>,then it has a(n) _____ gap,as _____ real GDP exceeds _____ real GDP,and the Bank of Canada should use _____ monetary policy. A)  inflationary;actual;potential;contractionary B)  recessionary;potential;actual;expansionary C)  inflationary;potential;actual;contractionary D)  recessionary;actual;potential;expansionary
-(Figure: Output Gap) Refer to Figure: Output Gap.If the economy is producing at Y1,then it has a(n) _____ gap,as _____ real GDP exceeds _____ real GDP,and the Bank of Canada should use _____ monetary policy.


Definitions:

Inheritance

The genetic process by which traits and characteristics are passed from parents to their offspring.

Heterotrophic Anaerobes

Organisms that require organic compounds for food and are capable of living and growing in the absence of molecular oxygen.

Cyanobacteria

Prokaryotic photosynthetic microorganisms that possess chlorophyll and produce oxygen during photosynthesis.

Oxygen

A chemical element with the symbol O and atomic number 8, essential for aerobic respiration in living organisms.

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