How Is Economic Growth Graphically Depicted

question 14

Multiple Choice

How is economic growth graphically depicted?

• A) The aggregate demand curve shifts to the left.
• B) Aggregate demand shifts to the right.
• C) Short-run aggregate supply shifts left.
• D) The long-run aggregate supply curve shifts right.

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Definitions:

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors when judging others' behavior.

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Bay of Pigs

The site of a failed invasion of Cuba in 1961, which was sponsored by the United States and intended to overthrow Fidel Castro.

Group Polarization

The tendency for a group to make decisions that are more extreme than the initial inclination of its members, often observed after group discussions.