Which of the following must occur to achieve large and lasting increases in output?
A) An increase in the long run aggregate supply curve.
B) An increase in the use of existing capacity.
C) A shift in aggregate supply to the left.
D) A commitment to contractionary fiscal policy.
Correct Answer:
Verified
Q2: Economists often define economic growth in terms
Q3: If a country currently produces a mix
Q4: Economic growth
A)Is measured using real GDP.
B)Shifts the
Q5: If nominal GDP rises from $550 billion
Q6: A short-run increase in capacity utilization
A)Shifts the
Q7: Economic growth implies a
A)Rightward shift of the
Q8: Long-run macroeconomic growth
A)Shifts the production possibilities curve
Q9: Which of the following is a major
Q10: In the short run,movement toward a fixed
Q11: Better short-run use of current capacity
A)Moves the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents