Economic growth would best be represented by a
A)Shift outward of the production possibilities curve.
B)Shift inward of the production possibilities curve.
C)Movement from inside the production possibilities curve to a point on the production possibilities curve.
D)Movement from the production possibilities curve to a point inside the production possibilities curve.

Question

Quizplus · Accepted Answer

Economic growth is an increase in the production of goods and services over time. This increase is represented by a shift outward of the production possibilities curve, which means that the economy is now able to produce more goods and services than before. This is due to improvements in technology, increases in capital or labor resources, or other factors that enable the economy to become more efficient and productive.

Economic Growth Would Best Be Represented by a