Economic growth is a sustained expansion of production possibilities,as measured by the increase in ________ over time.

Question

Quizplus · Accepted Answer

Economic growth is specifically measured by an increase in the production possibilities of an economy, which is typically measured by changes in real GDP (Gross Domestic Product), the total value of goods and services produced in an economy. Population growth, inflation, changes in the price level, and employment rates may all be related to economic growth, but they are not direct measures of it.

Economic Growth Is a Sustained Expansion of Production Possibilities,as Measured