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A(n) _______ occurs when the macroeconomic equilibrium GDP is less than the potential GDP. The difference between macroeconomic equilibrium GDP and potential GDP during an
A(n) _______ occurs when the macroeconomic equilibrium GDP is less than the potential GDP. The difference between macroeconomic equilibrium GDP and potential GDP during an expansion is called a(n) _________ output gap. Group of answer choices Expansion: Inflationary Recession: Inflationary Recession: Recessionary Expansion: Recessionary
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Managerial Economics
Authors: Mark Hirschey
12th edition
9780324584844, 324588860, 324584849, 978-0324588866
