Identify the Correct Statement

question 63

Multiple Choice

Identify the correct statement.

• A)According to the Rule of 70, the number of years necessary for a nation to double its output is approximately equal to the nation's growth rate divided by 70.
• B)Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita.
• C)An increase in labor input necessarily increases output per capita.
• D)Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base.
• E)Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity shift the production possibilities curve inward.