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Briefly Define Real and Potential GDP,and Explain the Relationship Between

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Essay

Briefly define real and potential GDP,and explain the relationship between real GDP and potential GDP.How can we measure potential GDP?


Definitions:

Fortune 500

An annual list ranking of the 500 largest US corporations by total revenue for their respective fiscal years.

Statistic

A numerical value that summarizes or describes a characteristic of a set of data.

Medical History

A record of information about an individual's health, including past illnesses, surgeries, allergies, and medications.

Allergies

Hypersensitive reactions by the immune system to substances that are normally harmless to most people.

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