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Difference between actual output and potential output of an economy?
Actual output is the "real" GDP ( gross domestic product). potential output is the targeted output set by the government. the difference between the actual and potential output is UNDEREMPLOYMENT!
Distinguish between actual and potential growth?
• Potential growth is the change in the ability of the economy to produce goods and services.•Actual growth is a rise in the quantity of goods and services produced
How does under utilisation or efficiency shown on a PPC?
Underutilization on a Production Possibility Curve (PPC) is represented by points inside the curve, indicating that an economy is not producing at its full potential. This inefficiency may arise from factors such as unemployment, underemployment, or misallocation of resources. In contrast, points on the curve signify efficient production, where resources are fully utilized. Thus, the area within the curve highlights the gap between actual output and potential output.
What happens when potential growth is greater than actual growth and what macroeconomic problems is that likely to lead?
Potential growth refers to the maximum capacity an economy can grow at, it is always greater than actual growth because an economy cannot realistically function at full capacity. By full capacity i mean full employment, using all resources the most efficient way. Technically there shouldn't be any macroeconomic problems resulting from that because actual growth is always below potential growth, but if it gets further away then it could eventually lead to a recession.
If actual output exceeds potential output eventually what will happen?
According to the theories of macroeconomics, if actual output exceeds potential output, then the output will continue to grow as the price of inputs continues to fall.
What is the difference between potential resources and actual resources?
A type of natural resource that exists in a region and may be used in the future (in contrast to actual resource).A type of natural resource that has been surveyed for quality and quantity and used in present time (in contrast to potential resource).
What is difference between the actual buyers and potential buyers?
actual buyer is that which is actual buyer and potential buyer is that which is potential buyer..............
What is the different between actual buyers and potential buyers?
actual buyer is that which is actual buyer and potential buyer is that which is potential buyer..............
What are the differences between potential use of media and their actual use?
Media can be used in many different ways, some of which have not been discovered yet. The actual use is how they are being used today.
To decide whether observed differences between samples reflect actual differences between?
statistical significance
Difference between actual output and potential output of an economy?
Actual output is the "real" GDP ( gross domestic product). potential output is the targeted output set by the government. the difference between the actual and potential output is UNDEREMPLOYMENT!
On the basis development resources can be classified into how many categories?
potential stock/actual developed reserved
What is price erosion?
difference between actual cost and potential price
What is difference between actual and potential buyers?
An actual buyer is someone who is committed to buying a product whereas a potential buyer is some who is interested in buying, but may not.
What is the differences between budgeted amounts and actual financial performance?
suck your own dick then you will have the answer
What is mean by saving investment gap?
Its the gap between the actual and potential GNP
Distinguish between actual and potential growth?
• Potential growth is the change in the ability of the economy to produce goods and services.•Actual growth is a rise in the quantity of goods and services produced
