The ability of an economy to produce greater levels of output in the same period of time is called:

Question

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Economic growth refers to an increase in the production capacity of an economy, which can be achieved through various means such as increased investment, technological advancements, and improved efficiency. This leads to higher levels of output being produced in the same period of time, which in turn can result in increased incomes, lower unemployment, and overall improvements in living standards.

The Ability of an Economy to Produce Greater Levels of Output