Output in the Long Run Is Determined by Which of the Two

question 124

Multiple Choice

Output in the long run is determined by which of the two following factors when an economy operates at full employment?

• A) capital and supply
• B) imports and exports
• C) capital and labor
• D) the "real" GDP and purchases

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Definitions:

Re-recruiting

The process of engaging and hiring former employees or candidates who were previously considered for employment to leverage their skills and experiences.

Tight Labour Market

A market condition characterized by low unemployment and high job vacancies, giving employees more leverage to demand higher wages and better conditions.

Low Unemployment

Low unemployment refers to a condition where a low percentage of the workforce is without work but actively seeking employment, indicating a healthy economy.

High Unemployment

A situation where a large portion of the workforce is not engaged in employment, often measured by the unemployment rate.