Long-run growth is a(n) :
A) sustained upward trend in the economy's overall output per person, which generates higher incomes and a higher standard of living for its members.
B) increase in the rate of inflation across time, which reduces real salaries.
C) increase in the overall output of the economy over a three- or four-year period.
D) reduction in the price level over decades.
Correct Answer:
Verified
Q79: A period of falling real GDP is
Q80: An independent panel of economic experts at
Q81: According to official statistics for the United
Q82: An increase in the nation's overall price
Q83: Historical evidence shows that for determining a
Q85: Long-run economic growth is best measured by:
A)
Q86: Per capita economic growth is:
A) growth per
Q87: Long-run growth is the sustained upward trend
Q88: If the economy grew at 3% this
Q89: Which one of the following measures long-run
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents