Which of the following is an equivalent term for "full-employment output"?
A)actual output
B)long-run output
C)gross national product (GNP)
D)gross domestic product (GDP)
E)potential output

Question

Quizplus · Accepted Answer

Full-employment output refers to the level of output a country can produce when its resources are fully employed. This is often referred to as potential output as well. Therefore, the equivalent term for "full-employment output" is potential output.

Which of the Following Is an Equivalent Term for "Full-Employment