What must increase for an economy to experience economic growth?
A
Unemployment increases over time, usually as % change in the unemployment rate.
B
Nominal output increases over time, usually as % change in nominal GDP.
C
Average prices increase over time, usually as % change in the price level.
D
Real output increases over time, usually as % change in real GDP.
2.5.1 Causes of growth Flashcards
Flashcards for Edexcel A A Level Economics 2.5.1 Causes of growth, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 29 cards, matched to the Edexcel A A Level Economics (9EC0) specification.