GENERAL KNOWLEDGE

Detailed explanation-1: -Having more cash means companies have the resources to procure capital, improve technology, grow, and expand. All of these actions increase productivity, which grows the economy. Tax cuts and rebates, proponents argue, allow consumers to stimulate the economy themselves by imbuing it with more money.

Detailed explanation-2: -The correct answer is Increase in per capita real GDP over time. Economic growth is an increase in the production of goods and services in an economy.

Detailed explanation-3: -These are – production, consumption, and distribution of goods and services. Ans. Adam Smith defined economics as the “science of wealth.” The definition implies that the economy is determined by the wealth generated when people produce valuable commodities that are consumed. Ans.