Examlex
Which of the following statements is NOT true?
Economic Growth
An increase in the production of goods and services in an economy over a period, typically measured by the rise in real GDP.
Productivity
The efficiency with which goods and services are produced, typically measured in terms of output per labor hour.
Living Standards
Refers to the level of wealth, comfort, material goods available to a person, group, or nation, similar to the standard of living.
Human Capital
The collective skills, knowledge, and other intangible assets of individuals that can be used to create economic value.
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