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Which is an economic indicator of growth?

1. Economic Development
2. Increase in standard of living
3. Real GDP
4. Nominal GDP

Correct answer: Real GDP

Solution

Real GDP (adjusted for inflation) is the primary economic indicator of growth — it measures the actual increase in output/production. Nominal GDP includes price increases, not just real growth. Economic development and standard of living are broader development indicators, not purely growth metrics.

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