Economic growth is measured by the annual percentage increase in a nation's level of:

Question

Quizplus · Accepted Answer

Economic growth is measured by the annual percentage increase in a nation's real GDP, which takes into account inflation and reflects the actual increase in goods and services produced by an economy. A is incorrect because nominal GDP does not account for inflation, so it can be misleading about the actual increase in output. C is incorrect because the real GDP deflator is a measure of inflation, not economic growth. D is incorrect because economic indicators such as unemployment rate, inflation rate, and consumer confidence can provide information about the state of the economy but are not direct measures of economic growth.

Economic Growth Is Measured by the Annual Percentage Increase in a Nation's