Question
1) If potential output equals $8 billion and actual output equals $10 billion, then this economy's output gap should be expressed as: A). 25 percent.
1) If potential output equals $8 billion and actual output equals $10 billion, then this economy's output gap should be expressed as:
A). 25 percent.
B). 25 percent.
C). 20 percent.
D). $2 billion.
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B 25 percent Explanation Output gap refers to the differen...
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
