Question on: JAMB Economics - 2017

* **Economic growth** refers to an increase in the production of goods and services in an economy over a period of time. * **Gross Domestic Product (GDP)** is the total market value of all final goods and services produced within a country in a given period. A high GDP indicates that the economy is producing more goods and services, thus signifying economic growth. * The other options are not direct indicators of economic growth: * High tax rates can sometimes be associated with economic growth if the revenue is used to invest in infrastructure. * Technology development is a driver of economic growth, but it is not the indicator itself. * High-interest rates can sometimes hinder economic growth.