All of the following statements are correct except A. economic growth is the expansion of production possibilities B. the return to full employment in an expansion phase of the business cycle is economic growth C. a return to full employment in a business cycle expansion is shown as a movement from inside the PPF to a point on the PPF D. real GDP increases when the economy is returning to full employment in an expansion phase of the business cycle

All of the following statements are correct except A. economic growth is the expansion of production possibilities B. the return to full employment in an expansion phase of the business cycle is economic growth C. a return to full employment in a business cycle expansion is shown as a movement from inside the PPF to a point on the PPF D. real GDP increases when the economy is returning to full employment in an expansion phase of the business cycle

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 7P

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