Question

Economic growth is growth in _____.

• A. Value of total output
• B. Value of total input
• C. Value of industrial output
• D. Value added of all sectors

Answer 1

The correct option is D Value added of all sectors

An increase in the capacity of an economy to produce goods and services compared from one period of time to another is known as economic growth. It can be measured in nominal or real terms. Traditionally, aggregate economic growth is measured in terms of gross national product (GNP) or gross domestic product (GDP), although alternative metrics are sometimes used. Economic growth is growth in valued added of all sectors.