Under modern economic growth, the annual average increase in output per person is
A) often not large, perhaps 2 percent per year.
B) often large, perhaps greater than 5 percent per year.
C) often small, perhaps less than 1 percent per year.
D) often the same in rich countries as in poor countries.

Question

Quizplus · Accepted Answer

Under modern economic growth, the annual average increase in output per person is often not large, perhaps 2 percent per year. While economic growth can vary greatly between countries and over time, a sustained annual growth rate of around 2 percent is considered a healthy rate of economic growth. This growth rate allows for an increase in living standards and a reduction in poverty, while also avoiding major inflationary pressures.

Under Modern Economic Growth, the Annual Average Increase in Output