Economic Development Is Measured by

question 22

Multiple Choice

Economic development is measured by

• A)an increases in the aggregate level of output.
• B)an increase in per capita output.
• C)an increase in economic activity without any underlying change in the fundamental structure and institutions of a country.
• D)All of the above

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Definitions:

Annual Pension Benefit

The amount of money an individual receives from a retirement plan each year after retirement.

Installment Note

A debt that requires the borrower to make equal periodic payments to the lender for the term of the note.

Periodic Payments

Payments that are made regularly over a period of time, such as monthly rent payments.

Warranty Expense

Costs associated with the repair or replacement of faulty products that a company sells, under its warranty policy.