In the Long Run, Output Gaps Are Eliminated By

question 42

Multiple Choice

In the long run, output gaps are eliminated by:

• A)reducing potential output.
• B)increasing potential output.
• C)price changes.
• D)increased efficiency in labor markets.

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Definitions:

Water Recovery

A process of reclaiming used water for reuse, often involving the treatment of wastewater to remove pollutants and impurities.

Surface Runoff

Water from rain, snowmelt, or other sources that flows over the land's surface and is not absorbed into the ground.

Groundwater

Water held underground in the soil or in pores and crevices in rock.

Accounts Receivable

Funds that are due to a company from its customers for products or services that have been provided but remain unpaid.