Country X experiences an increase in Real GDP and an increase in per-capita Real GDP.It follows that
A) the residents of country X are happier than they used to be.
B) the benefits of economic growth outweigh the costs of economic growth.
C) the costs of economic growth outweigh the benefits of economic growth.
D) all the residents of country X are "richer" in terms of goods and services than they used to be.
E) none of the above

Question

Quizplus · Accepted Answer

An increase in Real GDP and per-capita Real GDP indicates economic growth, but it does not necessarily imply that residents are happier, that the benefits of growth outweigh the costs, or that all residents are "richer" in terms of goods and services. Happiness and the distribution of wealth are influenced by factors beyond economic growth, such as social, environmental, and individual circumstances.

Country X Experiences an Increase in Real GDP and an Increase