In order to achieve modern economic growth, a nation's output must grow faster than its population.

Question

Quizplus · Accepted Answer

Modern economic growth refers to sustained growth of a nation's real output (GDP) per capita over a long period of time. This implies that the economy is producing more goods and services per person, which requires an increase in productivity. If the population grows at a faster rate than output, there will be a decrease in output per capita and therefore hinder growth. Thus, in order to achieve modern economic growth, a nation's output must grow faster than its population.

In Order to Achieve Modern Economic Growth, a Nation's Output