Economics · Oct / Nov 2024 · Paper 13 · Question 21

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

1. Aindividuals: increase in absolute poverty; the economy: increase in inflation
2. Bindividuals: increase in average incomes; the economy: increase in government tax revenue
3. Cindividuals: increase in the variety of goods and services; the economy: reduction in exports
4. Dindividuals: increase in unemployment; the economy: reduction in the standard of living

As printed in the paper