Question

Which of the following is a key characteristic of economic growth?

• A. Short-term increase in income
• B. Increase in nominal income only
• C. Process of increase in National Income (NI) and Per Capita Income (PCI) over a long period
• D. Increase in population density

Answer 1

Answer:

C. Process of increase in National Income (NI) and Per Capita Income (PCI) over a long period

• Economic growth implies a continuous increase in real national income and per capita income sustained over a long period.