The Level of Real GDP in the Long Run Is

question 283

Multiple Choice

The level of real GDP in the long run is called

• A)potential GDP.
• B)short-run GDP.
• C)frictional GDP.
• D)low-capacity GDP.

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Definitions:

Radioactive Isotope

An isotope of an element that has an unstable nucleus and emits radiation during its decay to a stable form.

Greenhouse Effect

The process by which radiation from a planet's atmosphere warms the planet's surface more than it would without this atmosphere, largely due to greenhouse gases.

Troposphere

The lowest layer of Earth's atmosphere, where weather happens and where most of the planet's atmospheric water vapor exists.

Gaseous Molecules

Atoms bonded together that exist in the gas phase, characterized by their ability to fill a container of any size or shape.