FULL-EMPLOYMENT OUTPUT: The quantity of real production or real aggregate output (or better yet, real gross domestic product) produced by the macroeconomy when resources are at full employment. For all practical purposes, full-employment real production is real GDP produced when unemployment is at it's natural level, the combination of frictional and structural unemployment that can be maintained without inflation (or deflation either). For the aggregate market analysis, this is the level of real production achieved and maintained in the long run. The long-run aggregate supply curve is vertical at full-employment real production.

     See also | real production | full employment | real gross domestic product | macroeconomics | unemployment | natural unemployment | frictional unemployment | structural unemployment | aggregate market | long-run aggregate supply curve |

FULL-EMPLOYMENT OUTPUT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: November 8, 2025].

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The change in government purchases induced by a change in income or production (national income or gross domestic product). The marginal propensity for government purchases (abbreviated MPG) is another term for the slope of the government purchases line and is calculated as the change in government purchases divided by the change in income or production. The MPG plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part of the multiplier process. A related marginal measure is the marginal propensity to consume.

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