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jujubee600 jujubee600
wrote...
Posts: 467
5 years ago

Question 1.

For economic growth to increase living standards



▸ society must discover ways of using available resources more efficiently.

▸ the choices available to consumers must increase.

▸ the rate of growth must exceed the rate of population increase.

▸ society must acquire more resources.

Question 2.

The strict definition of economic growth that serves to increase living standards is



▸ an increase in real GDP per capita.

▸ an increase in nominal GDP per capita.

▸ an increase in capital accumulation per capita.

▸ an increase in investment per capita.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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mcwieckmcwieck
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Posts: 388
5 years ago
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