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The Gap That Exists When Equilibrium Real GDP Is Less

question 50

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The gap that exists when equilibrium real GDP is less than full-employment real GDP is


Definitions:

Ejecta

Material that is expelled or thrown out, especially as a result of volcanic eruption, meteorite impact, or other explosive events.

Sedimentary

Pertaining to rocks formed by the accumulation or deposition of mineral or organic particles at the Earth's surface, followed by compaction.

Sandstone

A sedimentary rock composed mainly of sand-sized minerals or rock grains.

Shale

A fine-grained sedimentary rock that can contain significant amounts of oil and natural gas.

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