Economic growth
I. is represented by an outward shift of the production possibilities curve.
II. is defined in terms of a series of events that increase the economy's ability to produce goods and services.
III. refers to a process that increases potential output.
IV. occurs when the economy operates on its production possibilities frontier.

Question

Economic growth 
I. is represented by an outward shift of the production possibilities curve.
II. is defined in terms of a series of events that increase the economy's ability to produce goods and services.
III. refers to a process that increases potential output.
IV. occurs when the economy operates on its production possibilities frontier.

Quizplus · Accepted Answer

The Answer is B

Economic Growth I. Is Represented by an Outward Shift of the Production