Economic growth can be represented by:Question 49Select one:a.an increasing equilibrium output levelb.a rightward shift of an economy's short-run aggregate supply curve.c.a rightward shift of an economy's long-run aggregate demand curve.d.a rightward shift of an economy's long-run aggregate supply curve.

Modern or "new" theories of long-run economic growth are based on the assumptions thattechnological change is mainly ________ to an economy and that investment yields ________ marginalreturns.A) exogenous; diminishingB) exogenous; constantC) exogenous; increasingD) endogenous; decreasingE) endogenous, increasing

An increase in consumer income increases the demand for automobiles. As a result of the adjustment to a new equilibrium, there is a(n):A.leftward shift of the supply curve.B.upward movement along the supply curve.C.downward movement along the supply curve.D.rightward shift of the supply curve.E.no change in the graph.

Economic Growth

WHAT IS ECONOMIC GROWTH

The upward sloping segment of the aggregate supply curve is where:Question 35Select one:a.substantial growth of real GDP can be produced without any increase in the price level (inflation).b.increased price levels result in a corresponding increased real output in the economy.c.price levels (inflation) can rise without increases in real output in the economy.d.is when all available labor resources are being used in the most efficient way possible.e.no growth of real GDP can be produced even with increases in the price levels.