MacroE Chap 9.1 Word Scramble
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Question | Answer |
Business cycle | Alternating periods of economic expansion and economic recession. |
Long-run Economic Growth | The process by which rising productivity increases the average standard of living. |
Labor Productivity | The quantity of goods and services that can be produced by one worker or by one hour of work. |
Capital | Manufactured goods that are used to produce other goods and services. |
Potential | The level of real GDP attained when all firms are producing at capacity. |
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