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What is an output gap?

A

The difference between actual output and potential (trend) output.

B

The difference between actual output and consumption.

C

The difference between nominal output and real output.

D

The difference between potential output and aggregate demand.

Card 1 of 23

9.2.2 positive and negative output gaps Flashcards

  1. Intl A Level
  2. /Economics
  3. /9.2.2 positive and negative output gaps

23 flashcards on CIE Intl A Level Economics 9.2.2 positive and negative output gaps: the key terms and definitions you need to recall.

Flashcards