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Economic growth refers to:
  • a)
    Increase in real GDP per capita over time.
  • b)
    Increase in the population of a country.
  • c)
    Increase in the government expenditure.
  • d)
    Increase in inflation rate.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Economic growth refers to:a)Increase in real GDP per capita over time....
Economic growth refers to an increase in real GDP (Gross Domestic Product) per capita over time. It signifies the expansion of an economy's production capacity and is usually measured in terms of the value of goods and services produced within a country.
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Economic growth refers to:a)Increase in real GDP per capita over time.b)Increase in the population of a country.c)Increase in the government expenditure.d)Increase in inflation rate.Correct answer is option 'A'. Can you explain this answer?
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