False This is a correct answer _____ Question 3 (Worth 5 points) If demand increases and supply simultaneously decreases, equilibrium price will rise. Get more help from Chegg. B) An Inward Shift Of The Production Possibilities Curve. Both these factors will result in rising in the amount of output that can be produced in the economy. Question: Question 1 Economic Growth Can Be Depicted As A) A Shift Of The LRAS Curve To The Left. Economic growth is not the only thing that matters, but it does matter. … Economic growth is shown by a shift of the production possibilities curve outward and to the right. In contrast to many of the other metrics on Our World in Data, economic growth does not matter for its own sake, but because rising prosperity is a means for many ends. True This is a correct answer _____ Question 2 (Worth 5 points) The four factors of production are land, labor, capital, and government services. Economic growth implies that there is a rise in the number of factors of production and/or improvement in technology. Correct Answer: a shift in the production possibilities frontier outward. – to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; – to contribute to sound economic expansion in Member as well as non-member countries in the process of Depicted by red lines, growth … This echoes a famous quote by the cherished natural historian David Attenborough: "Anyone who thinks that you can have infinite growth on a planet with finite resources is either a madman or an economist." True or False: The economy is currently in short-run equilibrium. It is because a person has more choices as their prosperity grows that economists care so much about growth. The desire to accumulate goods, the drive for economic growth, the wish for prosperity – they are all innate to human social being. D) A Movement Along The Production Possibilities Curve. Question 10 0 out of 1 points Refer to Exhibit 6. Would the implementation of land expropriation without compensation unlock greater economic growth o; 4.7.2 Use the following composition of expenditure for the economy of a country named the Republic of ; 5.The monetary transmission mechanism can be depicted in the form of a … Hence, economic growth is best depicted by an outward shift in PPF implying higher output. Given the economic conditions depicted by the graph, answer the following questions. Question 9 1 out of 1 points Economic growth is depicted by Answer Selected Answer: a shift in the production possibilities frontier outward. Panel A shows that “exogenous democratizations” (those ones that are not contaminated by endogeneity concerns) have no effect on economic growth. 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