Examlex
If the economy is in equilibrium with real GDP less than potential GDP,there is ________ gap and a fiscal policy that ________ is appropriate.
Great Depression
A severe worldwide economic downturn that lasted throughout the 1930s, marked by high unemployment and deflation.
World War II
A global conflict that lasted from 1939 to 1945, involving most of the world's nations and marked by significant events and battles across various continents.
Automatic Stabilizer
A government policy or program designed to counteract fluctuations in the nation's economic activity without intervention by policymakers, thereby stabilizing the economy over the business cycle.
Unemployment Insurance
A government program that provides financial assistance to unemployed workers who have lost their jobs through no fault of their own.
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