Potential GDP

question 252

Multiple Choice

Potential GDP

• A)increases as the price level increases because firms supply more goods and services.
• B)decreases as the price level increases because people demand fewer goods and services.
• C)might either increase or decrease as the price level increases,depending on whether aggregate demand increases or decreases.
• D)is independent of the price level.
• E)never changes.

Acknowledge the role of health promotion strategies in improving public health as outlined by the Ottawa Charter for Health Promotion.

Analyze the nutritional trends and their implications on public health in Canada.

Understand the significance of internal and external factors in health promotion and patient education.

Recognize the prerequisites for health as identified by the Ottawa Charter and their importance in health promotion.

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Definitions:

Marginal Product

is the increase in output resulting from a one-unit increase in the quantity of a particular input, while holding other inputs constant.

Competitive Market

A market structure characterized by a large number of sellers and buyers where no single entity has the power to influence market prices significantly.

Profits

The financial benefit that is realized when revenue generated from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Profit-maximizing

A strategy where a firm sets its production level and pricing to achieve the highest possible profit.