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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
explain how natural resources affect economic growth and evaluate the argument that limited availability of natural resources constrains economic growth;
explain how demographics, immigration, and labor force participation affect the rate and sustainability of economic growth;
explain how investment in physical capital, human capital, and technological development affects economic growth;
CFA® 2024 Level II Curriculum, Volume 1, Module 9.