The BEST definition for economic growth is
A) a sustained expansion of production goods over a given period.
B) a sustained expansion of consumption goods over a given period.
C) a sustained expansion of production possibilities measured as the increase in real GDP over a given period.
D) a sustained expansion of production possibilities measured as the increase in nominal GDP over a given period.
Correct Answer:
Verified
Q17: New growth theory economists believe that
A)I only
B)II
Q18: People base their labour supply on the
Q19: In the labour market, an increase in
Q20: Suppose that in 2009 a country has
Q21: The notion that technological change is not
Q23: If the quantity of labour and quantity
Q24: Greater labour force participation by households at
Q25: Of the following Asian countries, which has
Q27: Countries or regions in which real GDP
Q330: A central proposition of the new growth
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