Which of the Following Graphs Reflects a Balanced Growth (The

question 20

Multiple Choice

Which of the following graphs reflects a balanced growth (the two axis represents two goods X and Y and the curves (I and II) represent the before and after growth position of the PPF) ?

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Definitions:

Invention

The conception of a new product or process combined with the first proof that it will work.

Innovation

The process and outcome of creating something new or improved, including products, services, processes, or business models, that adds value.

Marginal Cost

The expense for creating a supplementary unit of a product or service.

Market Interest Rate

The prevailing rate at which borrowers are willing to borrow money and lenders are willing to lend in the financial market.