Potential output is the level of output an economy can achieve when labor is employed at its natural level . Aggregate demand is the relationship between the total quantity of goods and services demanded (from all the four sources of demand) and the price level, all other determinants of spending unchanged.
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Potential output will decrease if workers choose shorter work schedules in order to enjoy more leisure time. |
An economy's potential output is reached a. when there is no unemployment. b. at the natural rate of unemployment. c. when there is only cyclical ... |
If potential output is equal to actual aggregate output, which of the following is true? A. The economy is experiencing inflation. |
Potential output is: A. equal to actual output. B. also known as the output gap. C. the same as the natural rate of unemployment. |
Оценка 5,0  (1) current output equals potential output. When current output exceeds potential output. an expansionary gap exists. In the long run, inflation equals growth in ... |
The output gap measures the difference between actual output and potential output as a percentage of _____. potential output real GDP actual output nominal GDP. |
Business cycles are short-term fluctuations in economic activity. Potential output the level of output that occurs when all resources are fully employed. |
The potential output of an economy is the level of output produced when the: expected price level equals the actual price level. |
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