What Is the Difference in the Concepts of Economic Growth

question 18

Multiple Choice

What is the difference in the concepts of economic growth and economic expansion?

• A) Both terms are used interchangeably and refer to quarterly increases in output.
• B) Economic growth refers to the long-tun upward trend in output over a longer period of time,usually more than a decade,which is measured as the average annual change in output over the period.An expansion refers to a shorter time period during which output increases quarter by quarter or year by year.
• C) An expansion refers to the long-tun upward trend in output over a longer period of time,usually more than a decade,which is measured as the average annual change in output over the period.Economic growth refers to a shorter time period during which output increases quarter by quarter or year by year.
• D) Both terms are used interchangeably and refer to the long-tun upward trend in output over a longer period of time,usually more than a decade,which is measured as the average annual change in output over the period.
• E) Economic growth is the term reserved for periods of prosperity in less developed countries while expansion is the term reserved for developed industrial countries.

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Definitions:

Manager Authority

The power vested in a managerial position to make decisions, give orders, and manage resources within an organization.

Employee Behavior

The actions and conduct of individuals within a workplace, influenced by various factors including personality, culture, and the work environment.

Zone of Indifference

A range in which attempts to influence a person will be perceived as legitimate and will be acted upon without a great deal of thought.

Authoritative Requests

Commands or directives issued by individuals in positions of authority that are expected to be followed.