The Best Measure of Economic Growth Adjusted for the Population

question 47

Multiple Choice

The best measure of economic growth adjusted for the population of a nation is the increase in:

• A)aggregate demand over time.
• B)real GDP per worker over time.
• C)real GDP per capita over time.
• D)real GDP per dollar of capital stock over time.

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Definitions:

Loss-Minimizing

A strategy or approach aimed at reducing the amount of losses incurred in business operations or investments.

ATC

Average Total Cost is the total cost divided by the number of goods produced, indicating the cost per unit of output.

MC

Marginal Cost; the cost added by producing one additional unit of a product or service, essentially the cost of producing one more of something.

Break-Even

The juncture where the overall expenditures match the total income, resulting in neither a profit nor a loss.