In the Long Run, Growth in GDP Can Only Occur

question 64

True/False

In the long run, growth in GDP can only occur with an increase in aggregate supply.

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Definitions:

External Ties

Connections or relationships that a person or organization maintains with external entities or individuals outside their immediate group or organization.

Faultline

The hypothetical dividing line that may split a group into subgroups based on one or more attributes, potentially leading to conflict or decreased group cohesion.

Demographic Characteristics

The statistical characteristics of human populations, such as age, race, gender, income, education, and employment, used for identifying and analyzing population segments.

Non-Overlapping Subgroups

Groups within a larger group that do not share common members, ensuring distinct and separate collaboration or functioning.