What are two ways in which economic growth is generally measured?
What will be an ideal response?
Economic growth is generally measured as a percentage increase in a country's real GDP or as a percentage increase in a country's real GDP per capita.
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Which of the following statements best describes the "jobless recovery" after the Great Recession?
A. output begins rising without reducing the unemployment rate. B. output cannot begin rising due to the lack of available labor. C. new technology is replacing most of the jobs in the economy. D. during the recession the business began importing most of the products they sell.
The federal regulatory agency whose mission is to regulate workplace health and safety is the
A) AFL-CIO. B) FTC. C) OSHA. D) SEC.
Consumers may benefit more than sellers from a subsidy to sellers if:
A. they deserve the subsidy more. B. the demand curve is relatively more elastic than the supply curve. C. the demand curve is relatively less elastic than the supply curve. D. Consumers can never benefit more than sellers from a subsidy to sellers.
In an economy without a government and without international transactions, aggregate expenditure at each level of income is equal to: a. consumption plus saving
b. planned investment plus saving. c. disposable income plus the price level. d. consumption plus planned investment. e. planned investment minus saving.