Another Term for Full- Employment Output Is

question 3

Multiple Choice

Another term for full- employment output is:

• A) maximum output.
• B) potential output.
• C) perfectly competitive output.
• D) actual output.

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Definitions:

Automobile Industry

A global sector that involves the design, development, manufacturing, marketing, and selling of motor vehicles.

Food Industry

The sector that covers the processing, preparation, and distribution of food products from agricultural production to consumers.

Total Revenue

The total income generated by a company from its business activities before any expenses are subtracted.

Recession

A period of significant economic decline spread across the economy lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.