What Is Potential GDP

question 134

Multiple Choice

What is Potential GDP?

• A)The total amount of production an economy produces at equilibrium.
• B)The total amount of production when all of an economy's resources are being fully utilized.
• C)A prediction of what an economy will likely produce in the future.
• D)The total amount of production by an economy,adjusted for inflation.

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Definitions:

Repair Process

A series of steps taken to restore damaged, broken, or failed equipment, devices, or materials to a good or working condition.

Finite Population

A population with a countable number of members or elements, making it possible to obtain a complete count.

Service Time

The duration required to perform a service from start to finish, including all processing and waiting times.