Which of the following is an accurate representation of economic growth?
Choose 1 answer:
(A) An increase in both the potential and actual level of output of goods and services over time
(B) An increase in capital available without any increase in production
(C) An increase in human resources that aren't used
(D) An increase in the amount of money circulating in the economy
(E) Any increase in output of goods or services when an economy starts at a point inside its PPC

Question

Which of the following is an accurate representation of economic growth?
Choose 1 answer:
(A) An increase in both the potential and actual level of output of goods and services over time
(B) An increase in capital available without any increase in production
(C) An increase in human resources that aren't used
(D) An increase in the amount of money circulating in the economy
(E) Any increase in output of goods or services when an economy starts at a point inside its PPC

Accepted Answer

***A*** ∻Key Concept∻ ⚹Economic Growth⚹ ∻Explanation∻ ⚹Economic growth is typically represented by an increase in a country's potential and actual output of goods and services over time, reflecting improvements in productivity, efficiency, and an expansion of resources.⚹◊What are the key factors that contribute to economic growth according to the Solow growth model?⍭ Generate me a similar question◊

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