Refer is the following table. What was the approximate output gap in 1970?Year19701971197219731974Real GDP (billions of $)9396105109100Potential GDP (billions of $)909499104107 6.1% -6.5% 3.3% 2.1% solutionspile.com

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Refer is the following table. What was the approximate output gap in 1970?Year19701971197219731974Real GDP (billions of $)9396105109100Potential GDP (billions of $)909499104107 6.1% -6.5% 3.3% 2.1%  solutionspile.com

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