Economic Growth

question 427

Multiple Choice

Economic growth

• A) is an increase in potential GDP as the long- run aggregate supply curve shifts rightward.
• B) occurs when the long- run aggregate supply curve shifts upward.
• C) requires a compensating decrease in aggregate demand to offset the increase in aggregate supply.
• D) All of the above answers are correct.

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Definitions:

Mullainathan

Likely referring to Sendhil Mullainathan, an economist known for his work in behavioral economics and its implications on social and economic policies.

Dill

Could refer to a variety of contexts, including the herb used in cooking or a concept/person associated with a specialized field; without further context, a precise definition is challenging.

Mothers' Grief

A profound emotional distress experienced by mothers who have lost a child, encompassing a wide range of feelings including sadness, anger, and disbelief.

Continuous Random Variable

A variable that can take an infinite number of values within a given range, where the set of possible values are not countable.