单词 | below full employment equilibrium |
释义 | below full employment equilibriumDefinition A term used in economic analysis whereby the output of short-term Gross Domestic Product (GDP) is lower than anticipated long-term GDP. When this occurs, it means that input resources (capital, labor, real estate, etc.) are not producing at the level that could be achieved at full employment levels. This may represent an indication of a recessionary period. |
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