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According to the text, which of the following can be used to approximate potential output?
i. Assume a perfectly smooth trend is passing through the quarter-to-quarter movements in the real GDP.
ii. Survey leading economists.
iii. Gather current data from statistical agencies, such as the Bureau of Economic Analysis.
Skewed Salary Range
A disparity in pay distribution where a large difference exists between the highest and lowest earners within an organization or economy.
Worker Participation
The involvement of employees in the decision-making processes of an organization, often aimed at improving morale and productivity.
Social Norms
The unwritten rules that govern the behavior of individuals within a society, influencing how they act and interact.
Main Street
Symbolically represents the average, everyday concerns and interests of working-class citizens, often contrasted with Wall Street's financial interests.
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