Answer:
b. maximum amount of output that can be produced given the labor force, capital stock, and technology.
Explanation:
GDP refers to the gross domestic product which reflects the finalized value of the goods and services produced domestically
On the other side, the potential GDP refers to the maximum level of output that can be produced by considering the labor force, capital stock, technology by taking the constant inflation rate
Therefore option b is correct
Answer:
16,000
Explanation:
A marginally attached worker is a jobless individual who is not included in the labor force. They are excluded in the labor force because they have not searched for employment in the last four weeks. Marginally attached workers will comprise of discouraged job seekers willing to take up a job if offered one. A marginally attached worker has have searched for work in the past 12 months.
For Foxcatle, the marginally attached will be the discouraged workers. They are not in the labor force; hence they are not considered as employed or unemployed.
Answer:
The correct answer is option c.
Explanation:
An oligopoly market is a form of imperfect competition where there are a few firms. These firms can produce identical or differentiated products. Because of a few firms in the market, there is a high degree of competition in the market.
These firms are interdependent such that the economic decisions of a firm affect its rivals. So each firm has to consider the reaction of its rivals before making decisions.
The firms are price makers and face a downward-sloping demand curve.
Answer:Flexible
Explanation:
According to the question, clothing store tracks the sale at each location so, they are taking a very large base of consumers and they are considering each consumer that is why the quality information is flexible.
Demands of each consumer may vary such that one wants cotton fabric, another wants polyester so this makes the information more flexible as it may vary largely.
