When all of the economy's resources are fully employed, the value of production is called
A) real GDP.
B) nominal GDP.
C) potential GDP.
D) actual GDP.
Correct Answer:
Verified
Q188: Potential GDP is the
A) value of production
Q189: Potential GDP
A) measures the actual production from
Q190: In years with inflation, nominal GDP increases
Q190: In any year, real GDP
A) will always
Q191: The base- year method of calculating real
Q192: The relationship between real GDP and potential
Q194: Economists distinguish real GDP from nominal GDP
Q196: Real GDP measures the
A) general upward drift
Q197: Real Gross Domestic Product is
A) the value
Q198: The productivity growth slowdown refers to the
A)
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