An upward trend in real national income over an extended period of time is called
A)economic growth.
B)potential national income.
C)constant- dollar national income.
D)aggregate output.
E)an inflationary boom.

Question

Quizplus · Accepted Answer

Economic growth is defined as a sustained increase in real GDP over time. Real national income is a measure of the total income earned by individuals in a country, adjusted for inflation. Therefore, an upward trend in real national income over an extended period of time is indicative of economic growth. B, C, D, and E are not accurate terms to describe this concept.

An Upward Trend in Real National Income Over an Extended