• Define economic growth and explain what it means in terms of standard of living.
• Explain how economic growth can help to alleviate major global problems, such as high rates of infant and child mortality in Africa, and how these improvements can lead to further future economic growth.
• What happened at the end of the eighteenth century that radically altered the rate of global income growth and standard of living?
• Why is it necessary to adjust changes in nominal gross domestic product (GDP) for changes in prices and changes in population (i.e., computing real per capita GDP) before using it as a measure of economic growth?
• A news report includes this sentence: "Angola's economy grew by over 30% last year." Explain how that sentence could be highly misleading.