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

Derive the complex amplitude of the double convex lens, Derive that the com...

Derive that the complex amplitude of the double convex lens shown in the image below with focal length 1/f = (n-1 ) (1/R 1 - 1/R 2 ). Hint: we derived an plano convex lens in cla

Assignment, Ask question #MinDerive the isoprofit function ?imum 100 words...

Ask question #MinDerive the isoprofit function ?imum 100 words accepted#

INFLATION-UNEEMPLOYMENT TRADE-OFF UNDER ADAPTIVE EEX, Explain how inflation...

Explain how inflation unemployment trade-off is not feasible under adaptive expectation.MEC002

What are forms of price ceiling to lead inefficiency, What are forms of pri...

What are forms of price ceiling to lead inefficiency? Price ceilings frequently lead to inefficiency into the forms of: a. Ineffective allocation to consumers b. Wasted r

Economics, Malaysia’s Bank Negara has cut the country’s economic growth for...

Malaysia’s Bank Negara has cut the country’s economic growth forecast to between 4 and 5 percent for 2012, weighed down by Europe’s economic woes. Discuss ONE (1) demand-management

Retirement planning, For retirement planning, you decided to deposit $1,000...

For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annu

Engine performance in general are not adversely affected, Henry Ford's Mode...

Henry Ford's Model T was originally designed and built to be run on ethanol. Today, ethanol (190-proof alcohol) can be produced with domestic stills for about $0.75 per gallon. Whe

Classical quantity theories, Classical Quantity Theories Quantity theor...

Classical Quantity Theories Quantity theories have had a long history and a widespread use in economics. As originally formulated these were not explicitly designed as theories

Economy is fully utilizing its resources, The _______________ illustrates t...

The _______________ illustrates the notion of opportunity cost. If an economy is fully utilizing its resources, it can produce more of one product only if it produces less of anoth

Macroeconomics, what is microeconomics

what is microeconomics

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages