Which of the following best illustrates economic growth in terms of the production possibility frontier?

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A contraction of the production possibility frontierA point moving along the existing production possibility frontierAn expansion outward of the production possibility frontierChoosing to produce at a point inside the production possibility frontierA reduction in the variety of goods produced

Explanation

Economic growth is represented by the production possibility frontier shifting outward, indicating an increase in an economy's capacity to produce goods and services. An inward shift signals a decline, movement along the curve shows reallocation of resources, and producing inside the frontier reflects inefficiency.