Potential or Full- Employment Output Is

question 59

Multiple Choice

Potential or full- employment output is

• A)the maximum GDP that an economy actually achieves throughout its entire history.
• B)achieved during periods when all of the labour force is employed.
• C)the GDP that would be produced if the economy's resources were fully employed at a normal intensity of use.
• D)the GDP that could be produced if the economy's resources were fully employed at their maximum intensity of use.
• E)a goal that can never be achieved by the economy.

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Definitions:

U.S. Commerce

pertains to the buying, selling, and trading of goods and services within the United States or between the United States and foreign countries.

Relevant Product Market

A defined market segment that includes products or services considered by consumers to be close substitutes for one another.

Monopolization Cases

Legal cases involving allegations of monopolistic practices that violate antitrust laws.

Monopoly Power

The capability of a single entity or company to control or influence the market price or supply of a good or service, limiting competition.