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Inflationary Gap: Definition & Overview

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

In an economy the total demand for all final goods and services is called what?

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1. This economic measure is the same as aggregate demand.

2. When calculating gross domestic product, what is measured by X-M?

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About This Quiz & Worksheet

These resources will guide you as you discover what you grasp about the inflationary gap. For the quiz, you'll need to know the difference between inflationary gap and recessionary gap as well as what full employment can also signify.

Quiz & Worksheet Goals

These assessment resources will help you to:

  • Assess the connection between prices and an inflationary gap
  • Interpret GDP
  • Understand how inflationary gap occurs with regard to employment income and supply and demand

Skills Practiced

Practice the following skills via the quiz and worksheet:

  • Making connections - use understanding of the concept of inflationary gap and how it is connected to price
  • Distinguishing differences - compare and contrast topics from the lesson, such as inflationary gap and recessionary gap
  • Information recall - access the knowledge you've gained regarding GDP

Additional Learning

For more knowledge on this subject, feel free to utilize the lesson called Inflationary Gap: Definition & Overview. Once you've finished the lesson, you will have gone over the following objectives:

  • Define inflationary gap
  • Determine the relationship of the goods market with regard to GDP
  • Assess the example of inflationary gap
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