| Posted on April 14, 2014 at 7:40 PM |
Economic growth is an increase in real GDP or real GDP per capita over time. You can illustrate long run economic growth in two ways:
1) Rightward shift of the long run aggregate supply curve
2) Outward shift of a nation's production possibilities curve.
AP Macroeconomics Unit 5 Macroeconomic Theory
Categories: AP Macroeconomics, Macro Unit 5 Macroeconomic Theory
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