The Amount of Output That Would Be Produced by an Economy

question 52

Multiple Choice

The amount of output that would be produced by an economy if resources were being utilized at a high rate that is sustainable in the long run is referred to as the

• A)potential output.
• B)natural output.
• C)Walrasian output.
• D)partial-equilibrium output.

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Definitions:

Low-Quality Energy

Energy that is dispersed and difficult to gather for useful work, such as heat energy at a low temperature.

Uranium-235

An isotope of uranium that is fissile, meaning it can sustain a nuclear chain reaction, used as fuel in nuclear reactors and weapons.

Conservation of Matter

A scientific law stating that matter cannot be created or destroyed in an isolated system, only transformed.

Pollution

The introduction of contaminants into the natural environment that causes adverse change, affecting air, water, and land quality.