Which of the following represents the actual production of goods and services in an economy over a specific time period?

The correct answer, actual output, refers to the total quantity of goods and services that an economy produces in a given time period. This measure reflects the real level of economic activity and is often influenced by various factors such as consumer demand, business investment, and resource availability.

Actual output is crucial for assessing the performance of an economy, as it helps to evaluate how well resources are being utilized compared to their full capacity. In economic terms, actual output can often differ from potential output, which represents the maximum output an economy can achieve when fully utilizing its resources without generating inflationary pressures.

Potential output is an important concept but does not describe the current production levels — it is more of a benchmark for assessing economic performance. Expected output relates to forecasts and predictions rather than the current actual performance. Maximum output implies an idealized level of production that may not be achievable at all times due to constraints such as labor, capital, and technology. Hence, actual output provides the most concrete indication of an economy's performance during a specific period.