When a Country Keeps Its Workers as Fully Employed as Possible

question 184

True/False

When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than if many of its workers were idle.

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the market equilibrium price.

Short-Run World Demand

Refers to the total quantity of a good or service that is demanded globally over a short period of time, with at least one factor of production held constant.

Citric Acid Cycle

Series of chemical reactions in which citric acid is converted into oxaloacetic acid, carbon dioxide is formed, and energy is released. The oxaloacetic acid can combine with acetyl-CoA to form citric acid and restart the cycle. The energy released is used to form NADH, FADH2, and ATP.

Electron-Transport Chain

Series of electron carriers in the inner mitochondrial membrane; they receive electrons from NADH and FADH2, using the electrons in the formation of ATP and water.