The Full-Employment Level of Output Is Called

question 77

Multiple Choice

The full-employment level of output is called:

• A)aggregate demand.
• B)aggregate supply.
• C)potential output.
• D)none of the above.

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Definitions:

Yellow Dog Contracts

Employment agreements where the employee pledges not to join a labor union during the term of employment; these are illegal in the United States.

Free Trade

An economic policy that allows imports and exports among countries with minimal regulatory barriers or tariffs.

Legal Regulation

The implementation and enforcement of laws by a governing body to control or direct the activities conducted by individuals, organizations, or systems.

Public Interest

The welfare or well-being of the general public, often considered a guideline in determining policy and laws.