If you have any test reviews, homeworks, guides, anything school related that you think can be posted on this website, reach out to me at makingschooleasier@gmail.com 1) 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. Answer: A 2) The Rule of 70 is used to A) estimate how much of an economy's growth rate is due to increases in capital per hour of labor B) calculate the standard of living C) calculate the economy's growth rate D) estimate how long it will take the level of any variable to double Answer: D 3) Which theory of economic growth concludes that growth can continue indefinitely?
