Question

Economic growth would best be represented by

a: Shift outward of the production-possibilities curve.
b. Shift inward of the production-possibilities curve.
c. Movement from inside the production-possibilities curve to a point on the production-possibilities curve.
d. Movement from the production-possibilities curve to a point inside the production-possibilities curve.

Answer 1

Answer:

a: Shift outward of the production-possibilities curve. 

Explanation:

The production possibility curve is a curve that shows the two combinations of goods and services produced in an economy when its resocurces are fully employed.

The production possibility curve is downward sloping. This shows as more of a good is produced, the opportunity cost increases.

If technology improves the supply of factors of production increases, it is said that economic growth has occurred and the production possibility curve shifts to the right.

I hope my answer helps you