Potential GDP Refers to the Level of

question 223

Multiple Choice

Potential GDP refers to the level of

• A)real GDP in the long run.
• B)nominal GDP in the long run.
• C)real GDP in the short run.
• D)nominal GDP in the short run.

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Definitions:

Natural Disaster

refers to the sudden and extreme events caused by environmental factors that result in significant damage and hardship to affected communities and regions.

Reassured

Reassured means having one's confidence restored; to be comforted or relieved from worries or doubts.

Resiliency

The ability to recover quickly from difficulties; toughness, often demonstrated by individuals or communities in the face of adversity.

Adversity

Difficult or challenging circumstances that an individual or group faces, which can include poverty, illness, or disaster.