Economic growth can be represented by Select one: a. an increasing equilibrium output level b. 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.

Question

Jimena

Business

28 January, 23:14

Economic growth can be represented by Select one: a. an increasing equilibrium output level b. 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.

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Lukas Lester · Answer 1

d. a rightward shift of an economy's long-run aggregate supply curve.

Explanation:

Aggregate supply in economics, is the total amount of goods and services that firms or organizations in a country are willing to sell at a particular price range over a specific period of time. Aggregate supply curve gives the relationship between price level and production of an economy.

Graphically, economic growth can be represented by a rightward shift of an economy's long-run aggregate supply curve.