Question
Potential output: a. is greater in periods of expansion than in recessions. b. is the level of output that the economy would produce if all
Potential output:
a. is greater in periods of expansion than in recessions.
b. is the level of output that the economy would produce if all prices, including nominal wages, were fully flexible.
c. depends on the level of consumer confidence.
d. varies with the price level.
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Quantitative Methods For Business
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam
11th Edition
978-0324651812, 324651813, 978-0324651751
