GDP Gap
The forfeited output of a country's economy resulting from the failure to create sufficient jobs for all those willing to work. Investopedia Says:
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. Related Terms:
Economics
Frictional Unemployment
Genuine Progress Indicator - GPI
Inflation
Natural Unemployment
Okun's Law
Phillips Curve
Structural Unemployment |