O-LevelEconomicsGovernment and the macroeconomy2281/13 · Oct/Nov 2024 · Q211 Mark
What is the consequence of economic growth for individuals and for the economy? [Table 21.1 showing individuals and the economy]
Aincrease in absolute poverty, increase in inflation
Bincrease in average incomes, increase in government tax revenue
Cincrease in the variety of goods and services, reduction in exports
Dincrease in unemployment, reduction in the standard of living
✓ Correct answer
B: increase in average incomes, increase in government tax revenue
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