Economic growth is a sustained expansion of production possibilities measured as the increase in ________ over a given period.

Question

Quizplus · Accepted Answer

Economic growth is usually measured by an increase in real GDP (Gross Domestic Product) over a period of time. Real GDP takes into account the effects of inflation, so it gives a more accurate picture of the actual increase in goods and services produced by an economy.

Economic Growth Is a Sustained Expansion of Production Possibilities Measured