Which of the Following Has Not Been a Long-Term Trend

question 123

Multiple Choice

Which of the following has not been a long-term trend in the Australian economy since 1901?

• A) Increasing nominal GDP
• B) Increasing real GDP
• C) Increasing unemployment rates
• D) Increasing real GDP per capita

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Definitions:

Productivity

The measure of output per unit of input, reflecting the efficiency with which factors of production are utilized.

Productivity

A measure of the efficiency of production, often expressed as the ratio of outputs to inputs in the production process.

Real GDP Per Person

An economic metric that measures the value of all goods and services produced within a country in a specified period, adjusted for inflation and divided by the population.

Inward-Oriented Policy

An economic policy strategy that emphasizes domestic industry protection and self-sufficiency over global trade.