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

jujubee600

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

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

Edition: 12^th

Authors: Case, Fair, Oster

Read 62 times

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mcwieck

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More solutions for this book are available here

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jujubee600 Author

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5 years ago

Correct

Tabitha.davis

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Just got PERFECT on my quiz

einstein

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You make an excellent tutor!

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