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:

Occupiers' Liability Acts

Laws that hold property occupiers responsible for ensuring the safety of those who enter their premises.

Duty of Care

A duty enforced by law on a person to act with reasonable care in activities that could potentially harm other individuals.

Negligence

Not acting with the caution a reasonably careful person would use in similar situations.

Defence

Defence refers to the argument or strategy used by an individual or party to oppose or fight against a claim or accusation in legal proceedings.