Actual income and full employment income, Managerial Economics

Actual income and Full employment income

Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of production are fully employed.  This concept is given the symbol YF.  Actual national income, symbolized by Y, can be below or equal to YF and, by working resources overtime and otherwise harder than normal, it can occasionally rise above YF.

Posted Date: 11/28/2012 6:27:40 AM | Location : United States

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