Differentiate between actual and potential output, Macroeconomics

Assignment Help:

Differentiate between Actual and Potential output.

Actual output is that level which economy in fact produces. In contrast, potential output is the aggregate capacity output of a nation; the maximum amount of goods and services that can be produced with available resources and a given state of technology.

Related Discussions:- Differentiate between actual and potential output

Output-maximizing model, For a single nonprofit provider, describe an outpu...

For a single nonprofit provider, describe an output-maximizing model to predict supplier behavior.

Correlation of investment and interest rate, Suppose the demand for loanabl...

Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. what cause fluctuate in supply?

Classical model, using a graph of the classical labour market,illustrate th...

using a graph of the classical labour market,illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage.What will eventually happen i

Measurement of output, Different approaches to measure aggregate output

Different approaches to measure aggregate output

Advantage and disadvantage of reducing dependence, What are the pros and co...

What are the pros and cons of reducing dependence on outsourcing in order to fulfill social obligations toward stakeholders?

State the term national income statistics, State the term National income s...

State the term National income statistics National income statistics underestimate the true level of economic activity, and as people's living standards, because the non-moneti

Lorenz curve, what do we mean when we say export are exogenous and import a...

what do we mean when we say export are exogenous and import are endogeneos?

Lower marginal abatement cost, There are three industrial firms in a quaint...

There are three industrial firms in a quaint town of South Orange where the municipal government wants to reduce pollution to 120 units from uncontrolled level of 210 units. Three

Consumption function in the as-ad model, Q. Consumption function in the AS-...

Q. Consumption function in the AS-AD model? Consumption. Suppose that P increases by say 10% whereas real GDP (Y) is constant. Nominal GDP and nominal national will now have

Credit, How credit is created or the creation of credit

How credit is created or the creation of credit

Write Your Message!

Name

Email id

Message

Verfication Code

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages