Graphically, economic growth is represented as
A) a movement along the production possibilities curve.
B) a movement from a point inside the production possibilities curve to a point on the curve itself.
C) an inward shift of the production possibilities curve.
D) an outward shift of the production possibilities curve.
D
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According to this Application, the federal government's assuming the debts of the state governments that had been incurred during the Revolutionary War was seen as a way to
A) force states to be dependant on the federal government. B) prevent rapid inflation. C) balance the federal budget. D) strengthen the federal government.
Which aggregate supply curve has a positive slope?
A) both long run and short run B) neither long run nor short run C) short run only D) long run only