What are the three main aggregate supply factors that determine a nations potential (or full-employment) level of
Question:
What are the three main aggregate supply factors that determine a nation’s potential (or full-employment) level of real output?
What are the four main components of aggregate demand? Explain:
“Aggregate supply factors determine a nation’s potential GDP, whereas aggregate demand factors determine whether or not the nation achieves its full employment GDP.” How does fiscal and monetary policy relate to aggregate demand?
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Three Main Aggregate Supply Factors 1 Resource Quantity and Quality The availability and quality of key inputs such as labor capital and natural resou...View the full answer
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Related Book For 
Macroeconomics
ISBN: 9780077337728
19th Edition
Authors: Campbell Mcconnell, Stanley Brue, Sean Flynn, Flynn Mcconnell Brue
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