Long-run growth is a(n) :
A) sustained upward trend in the economy's overall output per person,which generates higher incomes and a higher standard of living for its members.
B) increase in the rate of inflation across time,which reduces real salaries.
C) increase in the overall output of the economy over a 3- or 4-year period.
D) reduction in the price level over decades.
Correct Answer:
Verified
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