Potential real GDP is defined as: Group of answer choices The quantity of output that the economy can produce when it is above the natural rate of unemployment. The quantity of output that the economy can produce when it is at less than potential employment of its resources. The macro equilibrium The quantity of output that the economy can produce when it is at full employment of its labor and physical capital.
Potential real GDP is defined as: Group of answer choices The quantity of output that the economy can produce when it is above the natural rate of unemployment. The quantity of output that the economy can produce when it is at less than potential employment of its resources. The macro equilibrium The quantity of output that the economy can produce when it is at full employment of its labor and physical capital.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter9: Classical Macroeconomics And The Self Regulating Economy
Section: Chapter Questions
Problem 6WNG
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Potential real GDP is defined as:
Group of answer choices
The quantity of output that the economy can produce when it is above the natural rate of unemployment .
The quantity of output that the economy can produce when it is at less than potential employment of its resources.
The macro equilibrium
The quantity of output that the economy can produce when it is at full employment of its labor and physical capital.
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