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Basic Question 2 of 8
Economic growth means:
II. polices and institutions that promote economic growth.
III. availability of natural resources.
IV. physical and human capital.
V. technology gains.
I. more income and a higher standard of living.
II. polices and institutions that promote economic growth.
III. availability of natural resources.
IV. physical and human capital.
V. technology gains.
User Contributed Comments 4
| User | Comment |
|---|---|
| u18jjm2010 | Economic Growth does not always lead to an increase in real GDP per person. This means that income and standard of living do not always increase during a period of economic growth. |
| Beret | Economic growth means increase in GDP, not always accompanied by increase in GDP/person. |
| ericczhang | I think most economists actually use the definitions of higher income and living standards as economic growth. I.e. most economists do not actually mistake GDP growth for economic growth. It's just that most people think they do. |
| choas69 | if economic growth was faster than the growth of the population then GDP per capita increases too |
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Learning Outcome Statements
compare classical growth theory, neoclassical growth theory, and endogenous growth theory;
explain and evaluate convergence hypotheses;
describe the economic rationale for governments to provide incentives to private investment in technology and knowledge;
CFA® 2025 Level II Curriculum, Volume 1, Module 9.