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Growth

  • Jack Harvey
Chapter
Part of the Macmillan Master Series book series

Abstract

When there are unemployed resources, the economy’s actual output is below its potential output; in terms of Figure 22.1 the economy is producing inside the production possibility curve, say at point A. Here output can be increased, even in the relatively short term, by measures which absorb unemployed resources.

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Copyright information

© Jack Harvey 1994

Authors and Affiliations

  • Jack Harvey

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