Paper 3 · National Income and Economic Growth
Economic growth is best defined as
Aa rise in the amount of money held by households and by firms
Ba rise in the number of people employed in a country during the course of a year
Ca rise in a country's real gross domestic product over a period of time
Da rise in the general price level of goods and services over a year
Explanation: Growth is a quantitative measure of output. It is usually stated as the percentage change in real gross domestic product over a year, and it says how much more is being produced, not whether people's lives have improved.
Derived from ZIMSEC Economics 4050/3 Paper 3, June 2023, Q4