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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© 1994 Jack Harvey
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Harvey, J. (1994). Growth. In: Mastering Economics. Macmillan Master Series. Palgrave, London. https://doi.org/10.1007/978-1-349-13504-2_22
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DOI: https://doi.org/10.1007/978-1-349-13504-2_22
Publisher Name: Palgrave, London
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