Define Potential GDP

question 236

Essay

Define potential GDP.Under what circumstances does actual real GDP fall short of potential GDP,equal potential GDP,and exceed potential GDP?

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Definitions:

Business Schools

Educational institutions that specialize in teaching courses and programs related to business and management.

Management

The process of organizing, planning, leading, and controlling resources to achieve specific goals.

Marketing

The process of promoting, selling, and distributing a product or service.

Entrepreneur

A person who establishes and manages one or more businesses, accepting higher than usual financial risks in the process.