The best definition for economic growth is
A) a sustained expansion of production possibilities measured as the increase in real GDP over a given period.
B) a sustained expansion of production possibilities measured as the increase in nominal GDP over a given period.
C) a sustained expansion of consumption goods over a given period.
D) a sustained expansion of production goods over a given period.
A
Economics
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The GDP deflator measures
A) the quality of the goods and services in GDP. B) the quantity level. C) nominal GDP. D) real GDP. E) the price level.
Economics
All else constant, so long as it is negative, as the cross price elasticity of demand between a firm's product and those of its competitors increases, so does the market power possessed by the firm
Indicate whether the statement is true or false
Economics