Actual GDP Will Be Below Potential GDP

question 12

Multiple Choice

Actual GDP will be below potential GDP

• A) when the economy is at full employment.
• B) during an economic boom.
• C) when resources are fully utilized.
• D) during a recession.

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Definitions:

Traditional Societies

Traditional societies are characterized by a predominantly agrarian and non-industrial culture with social structures and norms defined by customs, traditions, and often, religious beliefs.

Accommodation

In anthropology, refers to an adaptation process by which a people resists assimilation by modifying its traditional culture in response to pressures by a dominant society in order to preserve its distinctive ethnic identity.

Acculturation

The massive cultural change that occurs in a society when it experiences intensive firsthand contact with a more powerful society.

Atmosphere

The layer of gases that surrounds a planet, such as Earth, and is retained by the planet's gravity.