Multiple Choice
Which of the following is the best definition of potential output?
A) The output that could be produced if the economy were above full employment
B) The output that could be produced if the economy had no unemployment
C) The output that could be produced if the economy had no frictional unemployment
D) The output that could be produced if the economy were at full employment
E) The output that could be produced if the economy had no structural unemployment
Correct Answer:
Verified
Correct Answer:
Verified
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