Asked by Ellsa Bonnell on Jun 07, 2024
Verified
As potential real GDP is approached the aggregate supply curve becomes _________.
Real GDP
Real GDP measures the value of all final goods and services produced within a country’s borders in a specific period, adjusted for inflation.
Aggregate Supply Curve
A graphical representation that shows the total quantity of goods and services that producers in an economy are willing to supply at different price levels during a specific time period.
- Understand the concept and significance of potential real GDP.
Verified Answer
SG
Learning Objectives
- Understand the concept and significance of potential real GDP.