1.5.2 Two separate capacity constraints are discussed in this chapter: (1) the actual physical capacity of existing...
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1.5.2 Two separate capacity constraints are discussed in this chapter: (1) the actual physical capacity of existing plants and equipment, shown as the vertical portion of the short-run AS curve, and (2) potential GDP, leading to a vertical long-run AS curve. Explain the difference between the two. Which is greater, full-capacity GDP or potential GDP? Why?
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Related Book For 
Principles Of Economics
ISBN: 9780802845610
12 Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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