An __________ is a curve that shows all the combinations of inputs that, when used in a technologically efficient way, will produce a certain level of output.

Economic growth in any country is reflected by an increase in real GDP

a. True b. False Indicate whether the statement is true or false

If a nation is going to achieve and sustain a high rate of economic growth, it must

a. prohibit low-wage foreign producers from supplying goods to the domestic market. b. have an abundant domestic supply of low cost energy resources. c. have a mechanism capable of attracting savings and channeling them into wealth-creating projects. d. impose regulations that will limit the intensity of competition among domestic firms.