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Figure 27.1
-Which of the following terms describes step III in Figure 27.1?
Immigration
The process of individuals moving into a new country with the intention of permanent residence.
Total Output
The total amount of goods and services produced by an economy or a firm within a specific period.
Productive Capacity
The maximum output a company, sector, or economy can produce using its current resources efficiently.
Wage Bill
The total amount of money paid by businesses to their employees for work performed, typically over a specific period.
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