The Total Amount of Goods and Services That Could Be

question 55

Multiple Choice

The total amount of goods and services that could be produced if the economy were at full employment is called the

• A) business cycle.
• B) price level.
• C) potential GDP.
• D) GDP deflator.
• E) aggregate demand curve.

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Definitions:

Biological Maturation

The process of growth and development guided by an individual's genetic code.

Stage Theories

Psychological theories that propose development occurs in a series of distinct and sequential stages.

Explosive Tempers

Characterized by sudden and intense expressions of anger that are disproportionate to the situation.

Maintaining Jobs

The act of preserving or keeping one's employment status stable over time.