Examlex
Scratching the eye through a badly fitting contact lens can cause a condition known as
Potential Level
The capacity of an economy to produce goods and services when at full employment, indicating the maximum sustainable output level.
Actual Output
The quantity of goods and services produced within an economy at a specific period, reflecting the economy's current production level.
Resource Unemployment
Refers to the state where economic resources are not being used to their full potential, contributing to less-than-optimal output or employment.
Potential Output
The highest level of economic output that can be achieved sustainably without causing inflation.
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