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Basic Question 0 of 6
Economic growth means ______.
II. physical and human capital
III. technology gains
IV. availability of natural resources
I. a higher standard of living
II. physical and human capital
III. technology gains
IV. availability of natural resources
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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Lina
Learning Outcome Statements
describe sources, measurement, and sustainability of economic growth;
n. describe the production function approach to analyzing the sources of economic growth;
define and contrast input growth with growth of total factor productivity as components of economic growth.
CFA® 2024 Level I Curriculum, Volume 2, Module 10.