Question 2
By Economic Growth we mean that:
1 The quality of the goods and services offered in the countryis increasing.
2 The GDP per capita is growing from year to year.
3 There are more goods and services offered in the country.
4 The GDP is growing each year.
Question 3
Innovation is the key to economic growth because...
[Multiple correct answers]:
1 It allows greater output from the same labor and capital.
2 Many people can benefit from it simultaneously.
3 It has no decreasing marginal return (or it decreases only inthe long run relative to capital and labor).
4 It allows higher productivity.
