From 1990 to 2004, Developed Countries That Experienced Larger Increases

question 53

Multiple Choice

From 1990 to 2004, developed countries that experienced larger increases in Real GDP tended also to experience higher rates of

• A)population growth.
• B)deflation.
• C)unemployment.
• D)productivity growth.

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Definitions:

Standard Of Living

The level of prosperity, amenities, material possessions, and basic needs accessible to a specific social class or region.

Economic Growth

An increase in a country's output of goods and services over time, typically measured by changes in real GDP, indicating improvements in living standards and economic health.

Capital

Assets or resources that are available for use in the production of further assets or goods.

Entrepreneurial Ability

The skill or capacity to identify opportunities, create new businesses, and innovate new products or services in the marketplace.