The forfeited output of a country's economy resulting from the failure to create sufficient jobs for all those willing to work.


A GDP gap denotes the amount of production that is irretrievably lost. The potential for higher production levels is wasted because there aren't enough jobs supplied.

  1. Inflation

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  3. Poverty Gap

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  4. Natural Unemployment

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  5. Frictional Unemployment

    Unemployment that is always present in the economy, resulting ...
  6. Okun's Law

    The relationship between an economy's unemployment rate and its ...
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