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Determining the technological advancement

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Reference no: EM132506453

Which of the following statements is true, which statement is false?

Explain for each statement whether it is true or false.

Productivity is output per worker hour.

The only source of economic growth is technological advancement.

Per capita output is a measure of economic welfare of a country.

GDP measures the total income of everyone and the total spending by everyone in the economy.

Total income in the economy can sometimes be greater than total spending.

Reference no: EM132506453

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