Potential GDP is the value of real GDP when all the economy's factors of production - _____, _____, _____, and _____ - are fully _____. A. average costs; marginal costs; variable costs; fixed costs; minimized B. labor; capital; stocks; bonds; employed C. labor; capital; land; entrepreneurial ability; employed D. wages; rent; interest; profits; optimized
Potential GDP is the value of real GDP when all the economy's factors of production - _____, _____, _____, and _____ - are fully _____. A. average costs; marginal costs; variable costs; fixed costs; minimized B. labor; capital; stocks; bonds; employed C. labor; capital; land; entrepreneurial ability; employed D. wages; rent; interest; profits; optimized
Chapter6: Tracking The U.s. Economy
Section: Chapter Questions
Problem 1.3P
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Potential GDP is the value of real GDP when all the economy's factors of production - _____, _____, _____, and _____ - are fully _____.
A.
average costs; marginal costs; variable costs; fixed costs; minimized
labor; capital; stocks; bonds; employed
labor; capital; land; entrepreneurial ability; employed
wages; rent; interest; profits; optimized
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