An increase in real GDP per capita is the strict definition of economic growth that serves to
A) increase living standards.
B) increase the population.
C) decrease inflation.
D) increase the money supply.

Question

Quizplus · Accepted Answer

Economic growth, defined as an increase in real GDP per capita, means that people are producing and earning more goods and services per person. This leads to an increase in their overall standard of living, as they have more goods and services to consume and can afford better quality goods and services.

An Increase in Real GDP Per Capita Is the Strict