Question 1
For economic growth to ________, the rate of growth must exceed the rate of population increase.
◦ result from a decrease in the labor force
◦ occur with increasing unemployment levels
◦ increase living standards
◦ All of these
Question 2
An increase in real GDP per capita is the strict definition of economic growth that serves to
◦ increase living standards.
◦ increase the population.
◦ decrease inflation.
◦ increase the money supply.