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irinina [24]
3 years ago
13

Potential GDP refers to the level of ___________ Select one: a. Nominal GDP in the long run. b. Nominal GDP in the short run. c.

Real GDP in the long run. d. Real GDP in the short run.
Business
2 answers:
Aloiza [94]3 years ago
8 0

Answer:

c. Real GDP in long run

Explanation:

Potential GDP refers to the level of real GDP in long run.

Elanso [62]3 years ago
6 0

Answer: Real GDP in the long run.

Explanation:

Potential Gross Domestic Product(GDP) or Full employment GDP is a theoretical GDP level that an economy would attain full employment is reported. Potential GDP is the GDP level where there is zero unemployment in the economy. It is the point where there is Pareto efficient, i.e., when there cannot be an increase in the aggregate output in the economy without an increase in the inputs level.

Potential GDP is the maximum attainable production level in an economy and its calculation relies on the assumption of a full employment. It is the highest level of the long run GDP that can be maintained with the technology level. Generally, full employment GDP refers to real GDP. The potential GDP is measured in terms of real goods and services.

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The invisible hand refers to the Multiple Choice fact that the U.S. tax system redistributes income from rich to poor. fact that
oksian1 [2.3K]

According to the theory of the invisible hand, when there is competition, self-interested decisions advance the society interests.

<h3>What is the invisible hand theory?</h3>

Adam Smith, a Scottish philosopher and economist, popularized the metaphor of the "invisible hand" to describe the processes by which positive social and economic consequences may result from the collective self-interested acts of individuals, none of whom intend to produce such outcomes.

<h3>How is Adam Smith's invisible hand idea still applicable today?</h3>

An important economic idea that is still relevant today is the invisible hand theory. It may provide insight into the operation of free markets and consumer behavior. Although the idea is significant, it is frequently applied in ways that are inconsistent with Smith's original text or out of context.

<h3>What exactly is the "invisible hand" and why is it significant?</h3>

The term "invisible hand" describes how an individual's self-interests help society as a whole. In other words, through pursuing the profit motive, individuals are required to offer commodities at a cost that others are prepared to pay. Society gains as a result since those goods might not have been created otherwise.

learn more about invisible hand theory here

<u>brainly.com/question/3078419</u>

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8 0
2 years ago
If the demand for steak (a normal good) shifts to the left, the most likely reason is that:______.
S_A_V [24]

If the demand for steak (a normal good) shifts to the left, the most likely reason is that consumer income has fallen.

<h3>What is a normal good?</h3>

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The demand curve shows the relationship between price and quantity demanded. A shift to the left of the demand curve indicates that demand has decreased.

To learn more about normal goods, please check: brainly.com/question/2934596

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4 0
1 year ago
1) true or false ?
dangina [55]

Answer:

ture

false

false

Explanation:

8 0
3 years ago
Read 2 more answers
Swifty's Market used the perpetual method to record the following events involving a recent purchase of inventory:
butalik [34]

Answer:

Inventory balance will be of 73,318

Explanation:

Inventory                     75,400

     Account payable                75,400

to record goods received

Account payable           1,300

           Inventory                          1,300

to record return of goods

Inventory                          700

            Cash                                  700

to record payment of freight

Account Payable        74,100

            Inventory                         1,482

            Cash                              72,618

to record payment of invoice within discount period

75,400 - 1,300 = 74,100

74,100 x 2% = 1,482

Inventory balance:

<em>   DEBIT         CREDIT</em>

 75,400

                       1,300

      700

                       1,482

<u><em>balance: </em></u>

  73,318

8 0
3 years ago
Reasons for youth unemployment
TEA [102]
Most youths don’t want to work, and some that do find it hard getting a job because no one wants to give them a chance. Most places ask for experience in that field but how can I have experience if no one ever gave me a try also the older folks don’t want to give up their seat at the table for anyone.
7 0
2 years ago
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