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Real output represents quantity, not the actual value of the dollar, and of goods and services made.

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13y ago

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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!


If the price level doubles and real output doesn't change then nominal output also doubles?

false


What are the effects of inflation on real domestic product?

What are the effects of inflation on real domestic output?


The primary value of real GDP is its ability to measure year to year changes in?

real output


How to calculate real output?

Real output is calculated by adjusting nominal output for inflation to reflect the true value of goods and services produced in an economy. This is typically done using a price index, such as the Consumer Price Index (CPI) or the GDP deflator. The formula is: Real Output = Nominal Output / (Price Index / 100). This adjustment allows for a more accurate comparison of economic performance over time by accounting for changes in price levels.


What does productivity measure?

real output per unit of input.


How does real GDP affect unemployment rate?

Real GDP is a measure of the economic output of a country. The absolute measure only tells you what that output was for a particular period. The more important measure for employment is the difference between real GDP and a theoretical real GDP which economists use to calculate the maximum output of an economy. When the gap between real GDP and maximum output GDP is large, the unemployment rate will be large and vice versa.


In a real machine why is the work output always less than the work input?

Every real machine is subject to forces that reduce output. These include actual forces such as friction, or human controlled forces such as imperfect machining. This reduces the output to less than the ideal.


In a real machine the work output is always less than the work input.?

Every real machine is subject to forces that reduce output. These include actual forces such as friction, or human controlled forces such as imperfect machining. This reduces the output to less than the ideal.


How does friction affect the equality between work input and work output in real situations?

Work Input = Work Output + Work done in overcoming friction.Therefore Work Input > Work Output.


What is the difference between a ideal machine and real machine?

In ideal machine input is equal to output . The efficiency of ideal machine is 100% . In real machine input is not equal to output .The efficiency of ideal machine in not 100% . In ideal machine there is no lose of energy . In real machine there is lose of energy . In real machine there is no friction . While in real machine there is friction .


Briefly explain the input and output units with real-time examples?

Input devices are computer devices that take in data and process it to display through output devices. A real time example of an input device is a DVD-ROM playing a movie and displaying the video on a Screen that acts as an output device.