If the Production Possibilities Curve Shifts Outward, the Long-Run Aggregate

question 31

True/False

If the production possibilities curve shifts outward, the long-run aggregate supply curve will shift rightward.

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Definitions:

Socio-economic Status

A measure of an individual or family's economic and social position in relation to others, based on income, education, and occupation.

Conscientiousness

A personality trait characterized by organization, responsibility, perseverance, and carefulness.

Neuroticism

A character trait marked by feelings of nervousness, apprehension, irritability, unease, envy, annoyance, jealousy, and feeling isolated.

Five-factor Model

A theory that describes personality using five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.