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Economics Tuition: Using the Production Possibility Curve, explain how an increase in government spending contributes to economic growth

Economics Tuition: Using the Production Possibility Curve, explain how an increase in government spending contributes to economic growth

by | Aug 13, 2015 | Central Economic Problem, Economics Tuition, JC Economics Notes, Microeconomics | 0 comments

Economic growth refers to the growth of production, seen in terms of actual and potential production capacity. Actual economic growth, also known as short term growth, is commonly measured in terms of a percentage change in the real Gross Domestic Product (GDP). The...