Ask Question
7 February, 12:14

Which of the following statements is correct? The level of real GDP is a good gauge of economic prosperity, and the growth of real GDP is a good gauge of economic progress. The level of real GDP is a good gauge of economic progress, and the growth of real GDP is a good gauge of economic prosperity. The level of real GDP is a good gauge of economic prosperity, and the level of real GDP per person is a good gauge of economic progress. The level of real GDP is a good gauge of economic progress, and the level of real GDP per person is a good gauge of economic prosperity.

+4
Answers (1)
  1. 7 February, 16:10
    0
    The level of real GDP is a good gauge of economic progress, and the growth of real GDP is a good gauge of economic prosperity.

    Explanation:

    Real GDP reflects the position of an economy even when there is inflation that what it sands, how does it perform, it is comparable to other economies to define what it wants as it will state the level of the country as in the world list.

    When we talk about the growth in GDP we reflect that the rise in GDP in comparison to past performance of the country in beating the inflation and then increasing the value.

    Thus, the correct statement is statement 2.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which of the following statements is correct? The level of real GDP is a good gauge of economic prosperity, and the growth of real GDP is a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers