Under Modern Economic Growth, the Annual Average Increase in Output

question 92

Multiple Choice

Under modern economic growth, the annual average increase in output per person is

• A) often not large, perhaps 2 percent per year.
• B) often large, perhaps greater than 5 percent per year.
• C) often small, perhaps less than 1 percent per year.
• D) often the same in rich countries as in poor countries.

---

Definitions:

Service Sector

A segment of the economy that provides intangible goods and services to consumers, such as healthcare, education, and financial services.

Early Bird

An idiom referring to someone who starts their day early or arrives before the usual time, often used to indicate that such behavior yields advantage or benefit.

Net Present Value

A financial metric that calculates the current value of all future cash flows of an investment, minus the initial investment cost.

Future Cash Receipts

Money expected to be received by a business or an individual in the future from transactions or agreements.