The long-run level of output is known as _____ output.
A) recognized
B) structural
C) potential
D) balanced budget

Question

Quizplus · Accepted Answer

The long-run level of output is known as potential output, which represents the maximum sustainable level of output that an economy can produce using its available resources and technology. Recognized, structural, and balanced budget output are not commonly used terms in economics.

The Long-Run Level of Output Is Known as _____ Output