Economic Growth Is

question 20

Multiple Choice

Economic growth is

• A)a sustained expansion of consumption expenditure over a given period.
• B)a sustained expansion of the population.
• C)the expansion of production possibilities.
• D)equal to real GDP per person multiplied by 70.
• E)always accompanied by a rising price level.

---

Definitions:

Accounts Payable

Liabilities or money owed by a company to its creditors for goods and services that have been delivered or used, but not yet paid for.

Discount Period

The time period between when a bill is discounted and its maturity date; in finance, it often refers to the period for which a discount is applied to a cash flow.

Revolving Credit Agreement

A credit facility that allows a borrower to obtain multiple advances within a specified limit to finance short-term needs.

Committed Funds

Resources that are allocated or earmarked for a specific investment or project, often under formal agreement to ensure their availability over the commitment period.