An Upward Trend in Real National Income Over an Extended

question 1

Multiple Choice

An upward trend in real national income over an extended period of time is called

• A)economic growth.
• B)potential national income.
• C)constant- dollar national income.
• D)aggregate output.
• E)an inflationary boom.

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Definitions:

High-Throughput Economies

Economies characterized by the rapid production and high volume of goods, often enabled by advancements in technology and manufacturing processes.

Low-Throughput Economy

An economy that minimizes the use of natural resources and energy consumption to reduce environmental impact.

Recycling

The process of collecting and processing materials that would otherwise be thrown away as trash and turning them into new products.

Chemical Change

A process that transforms substances into different substances through the rearrangement of atoms.