Modern economic growth refers to:
A)an increase in the general price level.
B)an increase in output per person.
C)an increase in the output.
D)an increase in percentage of the population which participates in the labour force.

Question

Quizplus · Accepted Answer

Modern economic growth refers to an increase in output per person or per capita income. The other options do not accurately define modern economic growth. A is inflation, C is just an increase in output (which may or may not be accompanied by an increase in population), and D only refers to labour force participation and not necessarily economic growth.

Modern Economic Growth Refers To