The Long-Run Trend of Potential Output Refers To

question 7

Multiple Choice

The long-run trend of potential output refers to:

• A)the long-run increase in the relative importance of durable goods in the Canadian economy
• B)the long-run expansion or contraction of economic activity which occurs over a series of business cycles
• C)fluctuations in economic activity that average 40 months in duration
• D)fluctuations in economic activity that occur around holiday seasons
• E)fluctuations in economic activity that average 8 or 9 years in duration

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Definitions:

Ag

The symbol for Silver, a chemical element with valuable electrical conductivity, thermal conductivity, and reflectivity properties.

Silver

A precious metal with the chemical symbol Ag and atomic number 47, known for its high conductivity, malleability, and antibacterial properties.

Selenium

a chemical element with symbol Se and atomic number 34, known for its role in antioxidant enzymes and its toxicity in large amounts.

Atomic Symbol

A notation of one or two letters representing a chemical element (e.g., O for oxygen, Ag for silver).