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Economic growth is best defined as an increase in:

A. either real GDP or real GDP per capita.

B. nominal GDP

C. total consumption expenditures.

D. wealth in the economy. 

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Yusra Anees
Yusra AneesLv10
8 Jan 2021
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Related questions

In an economy experiencing a persistently falling price level:
 
A. Potential GDP will necessarily exceed actual GDP.
B. Changes in nominal GDP may either overstate or understate changes in real GDP.
C. Changes in nominal GDP understate changes in real GDP.
D. Changes in nominal GDP overstate changes in real GDP.

If output growth exceeds population growth for a country:

a. real GDP per capita will fall

b. real GDP per capita will rise

c. real GDP per capita will remain constant

d. Any of the above

1. Economic growth can best be portrayed as a(n):

a. Inward shift of the production possibilities frontier

b. Movement from a point inside to a point outside of the production possibilities frontier.

c. Movement from a point near the vertical axis to a point near the horizontal axis on the production possibilities frontier

d. Outward shift of the production possibilities frontier.

 

2. Which of the following is a measure of economic growth that is most useful for measuring changes in the overall size of an economy?

a. Growth in nominal GDP:

b. Decreases in the rate of unemployment

c. Increases in real GDP per capita

d. Increases in real GDP

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