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:

Silurian Period

A geologic time period that occurred roughly 443.8 to 419.2 million years ago, characterized by significant biological diversity and the early development of terrestrial ecosystems.

Ediacaran Period

The last (most recent) period of the Proterozoic eon, from 635 million to 541 million years ago; named for early animal fossils found in the Ediacara Hills in South Australia.

Gymnosperms

A group of seed-producing plants that include conifers and cycads, characterized by having seeds that are not enclosed in an ovary (fruit).

Large Dinosaurs

Large dinosaurs were prehistoric reptiles, including species like the Tyrannosaurus rex and Brachiosaurus, known for their massive size and diversity during the Mesozoic era.