Real GDP can grow/increase for two reasons, but which one represents economic growth? ○ The economy might be returning to full employment in an expansion phase of the business cycle. O Potential GDP might be increasing. ○ The return to full employment in an expansion phase of the business cycle. O Noen of the above are correct.
Real GDP can grow/increase for two reasons, but which one represents economic growth? ○ The economy might be returning to full employment in an expansion phase of the business cycle. O Potential GDP might be increasing. ○ The return to full employment in an expansion phase of the business cycle. O Noen of the above are correct.
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 2P
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