True or False: The economy is currently in short-run equilibrium. Economic growth is shown by a shift of the production possibilities curve outward and to the right. False This is a correct answer _____ Question 3 (Worth 5 points) If demand increases and supply simultaneously decreases, equilibrium price will rise. AS AS2 Price Level o 126 120 a AD2 AD 0 700 900 GDP (bil $) Select] of The economy depicted in the graph above has Select and Select of Select Full employment GDP is at Select The graph above is drawn from the perspective of Select . Hence, economic growth is best depicted by an outward shift in PPF implying higher output. The desire to accumulate goods, the drive for economic growth, the wish for prosperity – they are all innate to human social being. … Panel A shows that “exogenous democratizations” (those ones that are not contaminated by endogeneity concerns) have no effect on economic growth. The Fairytale of eternal economic growth “Fairytales of eternal economic growth.” is how Greta Thunberg depicted the mindset at the United Nations in 2019.. Depicted by red lines, growth … C) A Shift Of The LRAS Curve To The Right. Given the economic conditions depicted by the graph, answer the following questions. 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 This is a correct answer _____ Question 2 (Worth 5 points) The four factors of production are land, labor, capital, and government services. Economic growth is not the only thing that matters, but it does matter. Question: Question 1 Economic Growth Can Be Depicted As A) A Shift Of The LRAS Curve To The Left. 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. D) A Movement Along The Production Possibilities Curve. 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 Economic growth implies that there is a rise in the number of factors of production and/or improvement in technology. Question 9 1 out of 1 points Economic growth is depicted by Answer Selected Answer: a shift in the production possibilities frontier outward. Both these factors will result in rising in the amount of output that can be produced in the economy. 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