🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
1
answer
0
watching
155
views

Economic growth takes place when a country:

a. produces a steady number of automobiles.

b. has a high rate of unemployment.

c. produces more goods and services.

d. measures the gross domestic product (GDP)

Watch
1
answer
0
watching
155
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Sonia Dhawan
Sonia DhawanLv10
2 Sep 2020

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

Economic growth is defined as the percent change of;

a. Gross domestic product (GDP).

b. Real gross domestic product (GDP).

c. Real per capita gross domestic product (GDP).

d. Per capita gross domestic product (GDP)

Country A has great expertise in the production of planes andproduces a large quantity of planes while country B has expertisein the production of automobiles and produces large quantities ofcars. When the two countries trade planes for automobiles

both countries improve allocative efficiency because they cannow consume a more desirable combination of goods and services(planes and cars) through trade.

only country B benefits because through trade they can acquireplanes that are more valuable than automobiles.

Gross Domestic Product (GDP) only measures the value of marketed goods and services for a country during a given period of time.

Is the GDP measure underestimating or overestimating national production and total income in the economy? Why?

What are the limitations of the GDP in measuring total output and national welfare? What products (services) are excluded from the GDP computation?

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in