An equilibrium point beyond a potential GDP is termed as
a. deflationary gap.
b. recessionary gap.
c. inflationary gap.
d. acceleration gap
c
Economics
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Which of the following is not true in the long run under perfect competition? a. There is no incentive for firms to enter or exit the industry. b. Economic profit is zero
c. Long-run marginal cost is minimized. d. Long-run average total cost is minimized.
Economics
Which statement is true?
A. There are at least a dozen different theories of poverty. B. The liberals and conservatives are in basic agreement about the causes of poverty. C. The liberals and conservatives are in basic agreement about how to solve the poverty problem. D. None of these statements are true.
Economics