If you were told the output of goods and services produced in Luxembourg had increased by 6 percent in 2010, you would correctly refer to this increase as which type of growth?
A) an example of recessionary growth
B) growth standardization
C) economic growth
D) nationalized growth

Question

Quizplus · Accepted Answer

Economic growth is a measure of the increase in the output of goods and services produced in a country over a certain period of time. A 6 percent increase in Luxembourg's output would be an example of economic growth. Option A, recessionary growth, refers to negative economic growth during a recession. Option B, growth standardization, is not a recognized economic term. Option D, nationalized growth, refers to growth that is heavily influenced by government policies and may not accurately represent the true state of the economy.

If You Were Told the Output of Goods and Services