The growth rate of output per person in the economy is called
A) factor growth.
B) labor productivity growth.
C) per-capita output growth.
D) output growth.

Question

Quizplus · Accepted Answer

Per-capita output growth specifically refers to the growth rate of output per person in the economy. Factors such as technological progress and increases in capital stock can contribute to per-capita output growth, while labor productivity only refers to the efficiency of individual workers. Output growth refers to the overall increase in goods and services produced in an economy, without accounting for changes in population size or individual productivity.

The Growth Rate of Output Per Person in the Economy