Answer to Question #218367 in Economics for Andie

Question

4.18  The annual rate increase in total production or income in the economy is called       . [1]     economic growth

[2]     gross domestic product

[3]     business cycle

[4]     production process

Answer 1

Economic growth is the increase in the market value of the goods and services produced by an economy over time.

So, the correct answer is [1].