Modern economic growth
A) started occurring during the time of the Roman Empire.
B) has been experienced by all countries around the world.
C) refers to the phenomenon of a country's total output rising.
D) makes a country's output per person rise at a compounded rate.

Question

Quizplus · Accepted Answer

Modern economic growth refers to a sustained increase in a country's output per person. This increase is compounded over time, leading to higher standards of living and improved economic well-being for individuals. While many countries have experienced economic growth, not all countries have experienced modern economic growth as defined by this compounded increase in output per person. Additionally, modern economic growth did not start occurring during the time of the Roman Empire, but rather only emerged in the past few centuries.

Modern Economic Growth