Question

Government Policy can encourage the output/production and lead to increase in _______
a) Supply
b) Demand
c) Growth
d) Inflation​

Answer 1

Answer:

A)Government Policy can encourage the output/production and lead to increase in supply

Answer 2

Answer:

The correct answer is Option (c) Growth

Explanation:

Government Policy can encourage the output/production and lead to increase in growth.

When output grows faster than population, output per person climbs. That is, anything that boosts productivity leads to higher rates of economic growth. A government programme that promotes the accumulation of the four economic resources boosts output and growth rate.

Any increase in output results in economic growth, as measured by GDP. This statistic simply represents an economy's total production of all products and services. Improved economic growth enhances living standards by cutting expenses and increasing wages.

• Government policies, such as taxes, restrictions, and subsidies, can have an impact on the cost of production and the supply curve. Taxes or restrictions, from the firm's perspective, are an additional cost of production that shifts supply to the left, causing the firm to produce a smaller quantity for every given price.

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