Potential Output Will Decrease If

question 181

Multiple Choice

Potential output will decrease if

• A)there is an increase in the price level
• B)there is a decrease in the price level
• C)there is technological change that increases labor productivity
• D)workers choose shorter work schedules in order to enjoy more leisure time
• E)the nation's capital stock increases

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Definitions:

Minor

A person under the legal age of majority, often under 18, thus restricted in certain legal capacities.

Ratification

The formal validation of a proposed contract, amendment, or treaty, often requiring official approval to become legally effective.

Ratify

To formally approve or confirm an agreement or action, making it officially valid.

Disaffirms

To legally reject or void a contract or agreement, especially one entered into by minors or under conditions that invalidate consent.