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How does economic growth allow households to consume more?
A
Lower real output raises average incomes, enabling households to consume more goods and services.
B
Higher interest rates raise average incomes, enabling households to consume more goods and services.
C
Higher real output raises average incomes, enabling households to consume more goods and services.
D
Higher nominal output lowers average incomes, enabling households to consume more goods and services.
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4.4.5 consequences of economic growth Flashcards
20 flashcards on CIE Intl A Level Economics 4.4.5 consequences of economic growth: the key terms and definitions you need to recall.