Question

In Polynomia, real GDP increased by 8% and the population increased by 3% in 2016. In 2016, Polynomia experienced..."

a. Economic growth.
b. Economic decline.
c. Hyperinflation.
d. Stagnation.

Answer 1

In 2016, Polynomia experienced economic growth, indicated by an 8% increase in real GDP and the overall advancement in economic performance.

Step-by-step explanation:

In 2016, Polynomia experienced economic growth. This is demonstrated by an 8% increase in real GDP, which is a solid indicator of economic performance, showing a rise in the total output of goods and services.

Additionally, despite the population increasing by 3%, the growth in GDP signifies an overall positive economic movement, as GDP per capita would also likely have increased, which is a strong indicator of rising living standards and economic prosperity within a country.