Which of the following is true with regard to economic growth?
A)Small differences in economic growth rates make small differences in Real GDP over time.
B)Once a country is richer than other countries, it will remain richer regardless of differences in economic growth rates.
C)Economic growth rates tell us nothing about the distribution of output and income in a country.
D)All of the above are true.

Question

Which of the following is true with regard to economic growth?​
A)​Small differences in economic growth rates make small differences in Real GDP over time.
B)​Once a country is richer than other countries, it will remain richer regardless of differences in economic growth rates.
C)​Economic growth rates tell us nothing about the distribution of output and income in a country.
D)​All of the above are true.

Quizplus · Accepted Answer

Economic growth rates primarily indicate how quickly the overall economy of a country is expanding, which does not directly inform us about how this growth is distributed among the population. This means that even if a country's economy is growing, the benefits of this growth may not be evenly spread across its citizens, leading to disparities in income and wealth distribution.

Which of the Following Is True with Regard to Economic