How is economic growth measured?
A)by changes in the money supply
B)by changes in real GDP
C)by changes in the rate of unemployment
D)by changes in nominal GDP

Question

Quizplus · Accepted Answer

Economic growth is typically measured by changes in real GDP (Gross Domestic Product), which is the total value of goods and services produced in a country over a certain time period. Real GDP is adjusted for inflation, making it a more accurate measure of economic growth than nominal GDP (which does not take inflation into account). Changes in the money supply can affect economic growth, but they are not an accurate measure of growth itself. The rate of unemployment can be an indicator of economic health, but it is not a direct measure of economic growth.

How Is Economic Growth Measured