Question

Per capita economic growth is: Question 10 options: a) always accelerated during a business cycle. b) a sustained increase in interest rates. c) growth per unit of capital. d) growth per person.

Answer 1

Answer: d

Explanation: Gross domestic product is the best way to measure economic growth. It takes into account the country's entire economic output.

Per capita gross domestic product (GDP) is a metric that breaks down a country’s GDP per person. It is calculated by dividing GDP over a country’s population. GDP per capita is a universal measure globally for gauging the prosperity of nations. Worldwide it is used by economists alongside GDP to analyze the prosperity of a country and its economic growth.There are three main factors that drive economic growth: Accumulation of capital stock. Increases in labor inputs, such as workers or hours worked. Technological advancement.