When Potential GDP Increases,long-Run Aggregate Supply Also Increases

question 174

True/False

When potential GDP increases,long-run aggregate supply also increases.

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Definitions:

Global Economy

The worldwide economic system comprising interconnected economies of nations, focusing on international trade, investment flows, and how economies are impacted globally.

Social Responsibility

The ethical framework suggesting that entities, whether individuals or organizations, have an obligation to act for the benefit of society at large.

Organisational Membership

refers to the state of being a part of an organization, which entails certain rights, responsibilities, and roles governed by the entity's structure and culture.

Discrimination

Occurs when someone is denied a job or a job assignment for reasons not job‐relevant.