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

Calculate the overall efficiency and operating cost, A company is consideri...

A company is considering investing in power generation. It wants to setup a 1000 MW power generation system. The company hired you as a consultant to explore different options for

Firm wants to sell goods, If a firm wants to sell goods more often, would t...

If a firm wants to sell goods more often, would they prefer to produce a high quality good that will not wear out or one that will wear out faster. For example, what is the 'life e

Pros and cons of commercial transactions, Examine the pros and cons of comm...

Examine the pros and cons of commercial transactions in blood from the egoistic, the utilitarian, and the Kantian perspectives

Household production, Assume two individuals, A and B, are considering marr...

Assume two individuals, A and B, are considering marriage, and each face the same amount of hours a week to be split between market-labor and home-labor.  Assume that A can make $2

Average cost of capital, Suppose a firm raises $23 million dollars by issui...

Suppose a firm raises $23 million dollars by issuing debt at a cost of 6.1%, raises $14 million by issuing common stock at a cost of 8.6% and raises an additional $10 million by is

Money supply and monetary policy, Money Supply and Monetary Policy   All...

Money Supply and Monetary Policy   All modern societies use money as the medium of exchange. Since money can be exchanged for goods and services it also becomes a financial asse

What are UN millennium development goals, What are UN Millennium Developmen...

What are UN Millennium Development Goals? The UN Millennium Development Goals (MDGs): These are a set of objectives shared through the IMF, the OECD and the World Bank (WB)

Multiple regression analysis, In multiple regression analysis, before testi...

In multiple regression analysis, before testing the significance of the individual regression coefficients, (a) the intercept must equal 0. (b) the multiple standard error of the e

Circular flow model and the supply and demand curves, Write a one paragraph...

Write a one paragraph summary and three paragraphs that take the information in the article and relate it specifically to the circular flow model and the supply and demand curves.

Write Your Message!

Captcha
Free Assignment Quote

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd