O-LevelEconomicsGovernment and the macroeconomy2281/12 · Oct/Nov 2024 · Q201 Mark
What is the definition of economic growth?
AIt is an increase in the general level of prices over time.
BIt is an increase in the level of a nation's output over time.
CIt is an increase in the level of total demand over time.
DIt is an increase in wages, interest, profits and rent over time.
✓ Correct answer
B: It is an increase in the level of a nation's output over time.
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