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Economics · Oct / Nov 2021 · Paper 12 · Question 18

2281Economic growth

What is the consequence of economic growth for individuals and for the economy?

  1. Aincrease in absolute poverty; increase in inflation
  2. Bincrease in average incomes; increase in government tax revenue
  3. Cincrease in the variety of goods and services; reduction in exports
  4. Dincrease in unemployment; reduction in the standard of living

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Correct answer: B. increase in average incomes; increase in government tax revenue

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