If $\tilde { Y } _ { t } < 0$

question 94

Multiple Choice

If $\tilde { Y } _ { t } < 0$ , the macroeconomy is:

• A) in an expansionary gap
• B) at its potential level of output
• C) in a recessionary gap
• D) None of these answers are correct
• E) Not enough information is given.

---

Definitions:

Good Faith Purchaser

An individual who buys something without knowledge of any outstanding rights, claims, or encumbrances held by others, thereby receiving full legal rights to the item.

FOB

An acronym for "Free on Board", a shipping term used in international trade to denote when liability and ownership of goods is transferred from seller to buyer.

Shipment Contract

A type of sale contract in which the seller is obligated to send the goods to the buyer, but the risk of loss passes to the buyer when the goods are delivered to the carrier.

Nonconforming

Refers to goods, services, or actions that fail to meet previously agreed upon standards, specifications, or regulations.