Question
Greece's output gap as a percentage of potential GDP in the from 2002 to 2009 is provided below: Year Value 2002 0.764983 2003 3.474921 2004
Greece's output gap as a percentage of potential GDP in the from 2002 to 2009 is provided below:
| Year | Value |
| 2002 | 0.764983 |
| 2003 | 3.474921 |
| 2004 | 5.79641 |
| 2005 | 4.630603 |
| 2006 | 8.880131 |
| 2007 | 10.94433 |
| 2008 | 9.621619 |
| 2009 | 4.628096 |
a. Using economic thinking from class, explain how the Greek economy would eliminate this imbalance (the difference between actual GDP and potential GDP) without government policy intervention. (total value = 1 point)
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Strategic Management And Business Policy: Globalization, Innovation And Sustainability
Authors: Thomas L. Wheelen, J. David Hunger, Alan N. Hoffman, Chuck Bamford
14th Edition
0133126145, 978-0133126143
