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What else can I help you with?
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!
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 do you refer to when actual output is higher than potential output?
expansionary output gap has occured.
What is the formula of efficiency?
Efficiency is typically calculated as the ratio of actual output to maximum possible output, expressed as a percentage. The formula for efficiency is: Efficiency = (Actual output / Maximum possible output) * 100%.
What happens when actual output exceeds potential output?
inflation rates tend to accelerate
What is the definition of expansionary gap?
An expansionary gap is a negative output gap, which occurs when actual output is higher than potential output.
What is sales output?
ratio of calls to actual sales
What is real output?
Real output represents quantity, not the actual value of the dollar, and of goods and services made.
What is accuracy of a good program?
It depends on to what level of accuracy you tend to have with the output of your program Accuracy can be treated as: (Desired Output / Actual Output of your Program)
Actual mechanical advantage is the output force of what?
Actual mechanical advantage is the ratio of the output force to the input force in a simple machine or system. It is a measure of how much a machine amplifies the input force to produce the desired output force.
Which best describes a work centre with actual output greater than planned output?
Running ahead of schedule
What is the definition of contractionary gap?
A contractionary gap occurs when an economy's actual output is less than its potential output. This leads to high unemployment and underutilization of resources. Policymakers may implement contractionary monetary or fiscal policies to close this gap and bring the economy back to full employment.
