The Language of Output Gaps - Recessionary Gaps and Inflationary

question 215

True/False

The language of output gaps - recessionary gaps and inflationary gaps - applies only to outcomes of supply shocks.

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Definitions:

Employment Grew

Describes a situation where the number of individuals in a workforce increases over a particular period of time, indicating economic expansion or recovery.

Healthcare Reform Initiative

Efforts and policies implemented to improve, reform, or overhaul a country's healthcare system with the goal of increasing accessibility, quality, and affordability of healthcare.

President Bill Clinton

The 42nd President of the United States, serving from 1993 to 2001, and a member of the Democratic Party known for his policies on welfare reform, healthcare, and the economy.

Hillary Clinton

An American politician, diplomat, and lawyer who served as the First Lady of the United States, U.S. Senator, and Secretary of State, and was the Democratic nominee for President in 2016.