Which of the following is true?

Question

Quizplus · Accepted Answer

Economic growth is commonly measured by the annual percentage increase in a nation's real GDP, which is the inflation-adjusted measure of a country's total economic output. The GDP gap, on the other hand, refers to the difference between actual real GDP and potential real GDP, which is a measure of an economy's maximum sustainable output level. Option B is incorrect because economic growth is generally considered beneficial for a country's standard of living, as it means that the economy is producing more goods and services, and people have more opportunities for employment, income, and consumption. Option D is also incorrect because economic growth does not necessarily depend on reducing net exports, which is the difference between a country's exports of goods and services and its imports of goods and services.

Which of the Following Is True