Which term is used to describe the economic scenario where the actual level of real GDP is below the economy's trend level of GDP?
A
Positive output gap
B
Negative output gap
C
Inflationary gap
D
Supply-side shock
Markscheme
The interaction of aggregate demand and supply Questions
5 exam-style questions on OCR A Level Economics The interaction of aggregate demand and supply. Each one has a worked solution and a mark scheme showing where the marks go.