The highest amount of output an economy can sustainably produce and sell using existing production processes and resources is called:
A) nominal output.
B) actual output.
C) potential output.
D) utilized output.
Correct Answer:
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Q30: The two frameworks conventional economists generally use
Q31: Keynesians:
A)generally favor activist government policies.
B)generally favor laissez-faire
Q32: The short-run business cycle framework focuses primarily
Q33: Classicals:
A)generally favor activist government policies.
B)generally favor laissez-faire
Q34: When Classical economists of the 1930s looked
Q36: Which of the following statements best depicts
Q37: The Great Depression occurred in the early:
A)1900s.
B)1930s.
C)1950s.
D)1960s.
Q38: Classical economists believe that in the short
Q39: Classical economists are generally associated with:
A)laissez-faire.
B)their support
Q40: Issues of growth are generally considered in:
A)the
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