Economic growth is the expansion of production


All of the following statements are correct except? _______.   

A. economic growth is the expansion of production possibilities

B. the return to full employment in an expansion phase of the business cycle is economic growth

C. a return to full employment in a business cycle expansion is shown as a movement from inside the PPF to a point on the PPF

D. real GDP increases when the economy is returning to full employment in an expansion phase of the business cycle.

Request for Solution File

Ask an Expert for Answer!!
Business Economics: Economic growth is the expansion of production
Reference No:- TGS02221478

Expected delivery within 24 Hours