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Use a PPF to explain the difference between actual and potential growth.
The PPF shows possible output, taking into consideration all factors of production - but de facto output is determine by a point on or within the PPF.
Actual growth means that the point moves outwards, whereas potential growth is shown by an outward shift in the PPF.
Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
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