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What is the definition of expansionary gap?
An expansionary gap is a negative output gap, which occurs when actual output is higher than potential output.
What is the definition of contractionary gap?
A contractionary gap occurs when an economy's actual output is less than its potential output. This leads to high unemployment and underutilization of resources. Policymakers may implement contractionary monetary or fiscal policies to close this gap and bring the economy back to full employment.
If the equilibrium output is below potential output?
This is known as the recessionary gap
What do you refer to when actual output is higher than potential output?
expansionary output gap has occured.
Why are intake and output charts important?
To prevent dehydration or over-hydration
What are the outputs of Excel?
The results of formulas that you type in are outputs in Excel. If you do filters, the results you get are outputs. Charts are an output. If you print anything from Excel, that is an output.
When the scientist analyze their data they put it into charts?
No. Charts can be used to get a rough idea of how different variables appear to relate to one another. The analyses, themselves, are carried out using statistical packages. The output may be put in charts to help in presenting the results. Charts are rarely used for analysis.
What is the GDP gap?
A GDP gap is the difference between actual GDP and potential GDP. The calculation of the GDP gap is actual output minus potential output. If this calculation yields a positive number it is called an inflationary gap and indicates the increased growth of aggregate demand is outpacing the growth of aggregate supply which may possibly create inflation. If the calculation yields a negative number it is called a recessionary gap- possible signifying deflation.
Can the Polyproc Accounting Policies and Procedures create charts and graphs or is it a numbers only system?
This product can output data to provide graphic representations.
A deflationary gap occurs when an economy is in an expansion?
A deflationary gap occurs when ag­gregate demand is less than aggregate supply. Deflationary gap depicts a situation in which total spending in an economy is insufficient to buy all the output that can be produced without unemployment occurring.
How does manufacturer set his or her total output to maximize profit?
determine the largest gap between total revenue and total cost
How does a manufacturer set his or her output to maximize profit?
determine athe largest gap between total revenue and total cost.
