What is the difference between the actual output and generated output known as?
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Answer:
THE DIFFERENCE BETWEEN GENERATE AND POTENTIAL OUTPUT IS TERMED TO BE OUTPUT GAP THE GENERATED OUTPUT GIVES THE TOTAL NUMBER OF SERVICES AND GOODS PRODUCED IN AN ECONOMY AND IT'S ALSO KNOWN AS ACTUAL GDP OF COUNTRY WHERE ELSE ON THE OTHER POTENTIAL OUTPUT IS DIFFERENT FROM THIS.
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Explanation:
the difference between generate and potential output is termed to be output gap that generated output gives the total number of services and goods produced in an economy and it's also known as actual GDP of country where else on the other potential output is different from this
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