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Author Question: Potential output a. is defined as the level of real output that the economy could produce at high ... (Read 52 times)

folubunmi

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on: Jun 30, 2018
Potential output
 
  a. is defined as the level of real output that the economy could produce at high rates of resource utilization.
  b. only occurs when both the unemployment rate and inflation rate are zero.
  c. can be estimated by choosing benchmark measures of high resource utilization.
  d. Both a and c

Question 2

The per-worker production function flattens out due to ________.
 
  A) the negative relationship between price and quantity demanded
  B) the positive relationship between price and quantity demanded
  C) the diminishing marginal product of capital
  D) an increase in the general level of prices


emily12345

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


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