| 单词 | potential output |
| 释义 | potential output The output which could be produced with the available labour, capital, and technology. For an individual firm, potential output is the output that could be produced with present capital and technology, allowing for recruitment of necessary unskilled labour. In some cases old and inefficient capital equipment could only be used profitably at higher output prices. Potential output for the economy as a whole is not necessarily the sum of potential output for all firms, since while any one firm could obtain extra inputs of fuel and unskilled labour, it might not be feasible for them all to expand at once. In any case, many firms have spare capacity suitable only for producing goods of particular sorts: total potential output thus depends on the composition of extra demand. |
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