Full- Employment Output Is

question 42

Multiple Choice

Full- employment output is:

• A) the level of output that is produced when there is no voluntary unemployment.
• B) the level of output that is produced when the labor market is in equilibrium.
• C) the level of output that is produced when the unemployment rate is zero.
• D) the level of output that is produced when there is no idle capital stock.

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Definitions:

Importance

the significance or value attached to something based on its relevance or impact.

Sherman Act

A foundational United States antitrust law enacted in 1890 to prohibit monopolies and practices that restrained trade and competition.

1890

A year significant in economic history, notably for the Sherman Antitrust Act's passage in the United States to combat anti-competitive practices.

Major Features

Principal characteristics or components that distinguish something from others.