The best definition for economic growth is

Question

Quizplus · Accepted Answer

Economic growth refers to the sustained expansion of production possibilities over time, which is best measured by the increase in real GDP (adjusted for inflation) over a given period. This indicates that the economy is able to produce more goods and services due to an increase in productive capacity, resulting in higher living standards and improved economic well-being. The other choices are less accurate as they either focus on specific types of goods or use nominal GDP (which is not adjusted for inflation) as a measure.

The Best Definition for Economic Growth Is