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Author Question: The best definition for economic growth is A) a sustained expansion of production possibilities ... (Read 115 times)

Diane

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on: Jun 29, 2018
The best definition for economic growth is
 
  A) a sustained expansion of production possibilities measured as the increase in real GDP over a given period.
  B) a sustained expansion of production possibilities measured as the increase in nominal GDP over a given period.
  C) a sustained expansion of consumption goods over a given period.
  D) a sustained expansion of production goods over a given period.

Question 2

The circular flow shows that
 
  A) aggregate production equals aggregate expenditure.
  B) aggregate expenditure is less than aggregate income.
  C) GDP equals aggregate income.
  D) Both answers A and C are correct.


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katkat_flores

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


Diane

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Reply #2 on: Jun 29, 2018
Thank you :)


katkat_flores

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Reply #3 on: Jun 29, 2018
Happy to help you


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