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.

Comprehend the significance of qualitative and quantitative changes in development.

Understand the key assumptions and contributions of major developmental theories.

Distinguish between the concepts of assimilation, accommodation, and equilibration in Piaget’s theory.

Recognize the role of biological and experiential factors in development.

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Definitions:

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An advanced academic degree focusing on the study of the mind and behavior, leading to a Doctor of Philosophy in Psychology.

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First African American

A term referring to the notable achievement of being the first African American person to accomplish a specific feat or hold a particular position.