Which of the following statements is NOT true about economic growth?
A) When growth occurs the production possibilities curve shifts outward.
B) Growth represents an increase in a nation's productive capacity.
C) Growth is measured as the overall level of real GDP.
D) Growth generally means that overall the members of the nation are better off materially.

Question

Quizplus · Accepted Answer

Economic growth is measured as the increase in a nation's output of goods and services over time. It is typically measured as the percentage change in real gross domestic product (GDP) or real GDP per capita. Therefore, statement C is not true as growth is measured as the level of real GDP, not the overall level.

Which of the Following Statements Is NOT True About Economic