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Michael and Mohammad graduated from the same pilot training institute and applied for a job as a trainee pilot at a private American airline.Despite both having similar profiles,Michael was hired but Mohammad was not,and the airline continued to look for other potential trainee pilots.In this case,Mohammad was a possible victim of
Expansionary Gap
A situation where the actual economic output exceeds the potential output significantly, often leading to inflation.
Cyclically Balanced
A term that might not be widely recognized in standard economic literature; if intended to mean maintaining balance over economic cycles, it could refer to the aim of achieving economic stability across different phases of economic cycles.
Automatic Stabilizers
Economic policies and programs designed to offset fluctuations in a nation's economic activity without intervention by the government or policymakers.
Falling Output
Falling output describes a situation where an economy or a particular sector is producing less goods or services over time.
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