The National Economy - Short-term economic growth and the business cycle
6 important questions on The National Economy - Short-term economic growth and the business cycle
What is potential growth?
What happens when the actual output is smaller than the potential output?
Name 2 major factors contributing to potential economic growth?
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What will happen when actual growth < potential growth?
In what way can a negative output gap be closed?
Name the 4 phases of the business cycle?
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