Which of these does not describe the 1970s a) foreign competition in consumer goods industries b) investment rate growth c) high inflation rate with slow growth d) economic recession

B) investment rate growth

Explanation:

The 1970s was an economic regression. Inflation was high, the stock market was a mess, and economic growth was very weak. With the economic scenario of the country going that bad, it is very unlikely to be a growth in investment rate.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.