Over the last hundred years:
A) output has decreased in as many years as it has increased.
B) movements in output due to contractions and expansions are dominated by the movement caused by long- run growth.
C) Australia's output has approximately doubled.
D) All of the above.
E) None of the above.

Question

Quizplus · Accepted Answer

Movements in output over the last hundred years are primarily characterized by long-run growth, despite the occurrence of contractions and expansions. This long-run growth has led to significant increases in output over time, far exceeding mere doubling as suggested in one of the options.

Over the Last Hundred Years