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deflationary gap
de·fla·tion·ar·y gap (plural de·fla·tion·ar·y gaps)


noun 
Definition:
 
recessionary phenomenon: a situation in which a country's national income falls well below what its economy is capable of producing.
See also  inflationary gap
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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