The Maximum Level of Real GDP That Can Be Produced

question 58

Multiple Choice

The maximum level of real GDP that can be produced while avoiding shortages of labour, capital, land, and entrepreneurial ability that would bring rising inflation is

• A)real GDP.
• B)nominal GDP.
• C)actual GDP.
• D)potential GDP.
• E)productive GDP.

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Definitions:

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The series of steps taken by individuals or groups to choose among alternatives and make a final choice.

Construct

To build or assemble something complex from various parts or concepts.

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The ability to discern the right or wrong of actions or decisions based on ethical principles.

Six Stages

A framework often used in business, project development, or personal growth, detailing a series of phases or levels typically encountered from start to completion.