Examlex
Regarding the review of material before a test, which of the following statements is FALSE?
Economic Growth
An increase in the production of goods and services in an economy over a period of time, often measured by GDP.
Simon Kuznets
Simon Kuznets was a Nobel Prize-winning economist known for his work on economic growth and for developing the concept of Gross National Product (GNP).
Quality of Inputs
The standard or grade of raw materials and labor used in the production process, influencing the efficiency and outputs.
Standard of Living
A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
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