Potential GDP Is

question 108

Multiple Choice

Potential GDP is

• A)equal to the maximum amount of goods and services that can be produced at any given time.
• B)another name for real GDP.
• C)the level of output produced when the economy is fully employed.
• D)a measure of the short term fluctuations in real GDP.
• E)another name for nominal GDP.

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Definitions:

Eidetic Image

A mental image that is unusually vivid and detailed, as if the person is actually seeing it in front of them.

Mnemonic Device

A tool that aids in the memorization of information by associating unique phrases or images with the data to improve recall.

Episodic Memory

An enduring memory category focused on recalling distinct occurrences, contexts, and life experiences.

Mnemonic Device

Techniques a person can use to help them improve their ability to remember something.