The total real output (real gross domestic product) that the economy can produce if resources are fully employed. In theory this means that the economy is operating ON the production possibilities frontier. Full employment is generally indicated by achieving what is termed the natural unemployment rate. If the economy is at full employment then actual real gross domestic product is equal to potential real gross domestic product and the actual unemployment rate is equal to the natural unemployment rate. The macroeconomy is thus living up to its potential.

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Our pedestrian's jaunt through the economy is not, unfortunately, an unrestrained shopping spree for confectioneries, spark plug tools, and Houston, Texas. We have other important errands to run. At the moment we need to hike over to Shady Valley's exclusive provider of cable television services, the Merciless Monolithic Media Masters Cable Television Company, Inc., to inquire about a mysterious fee that appeared last month's bill.

The good news is that the Merciless Monolithic Media Masters (the 4M people) Cable office is a mere 2 miles (3 kilometers for the metrically inclined) from the Shady Valley Central Town Sprawling Hills Shopping Mall. A hop, skip, and a moderately long jump later, our excursion through the economy takes us to the front door of the 4M Cable Television Company where I hope to discover why last month's cable bill included a $3,569 charge for something called "The Vacation Channel." I didn't even know I had a vacation channel. (But, I'm sure it's a great channel, and if I don't have it, then I will certainly subscribe. Please don't disconnect me.)

Of course, because this an afternoon workday, the doors of the 4M office are locked. I can almost make out, through the expensive stained glass windows, what appears to be several Merciless Monolithic Media Masters Cable Television employees, with champaign bottles in hand, dancing on expensive mahogany desks. Let's not disturb them. As they say in the cable business, an upset worker is a disconnected customer.
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Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for cardboard boxes.
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