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In February 2014, the projected outlook for economy in Kentucky called for: gross domestic product growth of 2.5 percent an unemployment rate of 6.5 percent employment growth of 2 percent manufacturing employment growth of 0.5 percent. Kentucky operates along a moderated capitalist economic system.
Why is economic growth important? Why could the difference between a 2.5 percent and a 3 percent annual growth rate be a great significance over several decades?Economic growth means a higher standard of living, provided population does not grow even faster. And if it does, then economic growth is even more important to maintain the current standard of living. Economic growth allows the lessening of poverty even without an outright redistribution of wealth.If population is growing at 2.5 percent a year-and it is in some of the poorest nations-then a 2.5 percent growth rate of real GDP means no change in living standards. A 3.0 percent growth rate means a gradual rise in living standards. For a wealthy nation, such as the United States, with a GDP in the neighborhood of $10 trillion, the 0.5 percentage point difference between 2.5 and 3.0 percent amounts to $50 billion a year, or more than $150 per person per year.Using the "Rule of 70," it would take 28 years for output to double with a 2.5 percent growth rate, and just over 23 years with 3.0 percent growth
It was advertising on television in the 1950s that helped spur economic growth. By 1970, 96 percent of American households had at least one television.
Types of economic growth: There are two types of economic growth: 1.Balanced Economic Growth 2.Un-balanced Economic Growth 1.Balanced Economic Growth: All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth. 2.Un-balanced Economic Growth: When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.
An economic growth_______ is a time of fast economic growth
it is oil
3 percent
In February 2014, the projected outlook for economy in Kentucky called for: gross domestic product growth of 2.5 percent an unemployment rate of 6.5 percent employment growth of 2 percent manufacturing employment growth of 0.5 percent. Kentucky operates along a moderated capitalist economic system.
Why is economic growth important? Why could the difference between a 2.5 percent and a 3 percent annual growth rate be a great significance over several decades?Economic growth means a higher standard of living, provided population does not grow even faster. And if it does, then economic growth is even more important to maintain the current standard of living. Economic growth allows the lessening of poverty even without an outright redistribution of wealth.If population is growing at 2.5 percent a year-and it is in some of the poorest nations-then a 2.5 percent growth rate of real GDP means no change in living standards. A 3.0 percent growth rate means a gradual rise in living standards. For a wealthy nation, such as the United States, with a GDP in the neighborhood of $10 trillion, the 0.5 percentage point difference between 2.5 and 3.0 percent amounts to $50 billion a year, or more than $150 per person per year.Using the "Rule of 70," it would take 28 years for output to double with a 2.5 percent growth rate, and just over 23 years with 3.0 percent growth
The current NDP of India in regards to its economic growth rate is determined to be at one percent for this quarter in growth.
It was advertising on television in the 1950s that helped spur economic growth. By 1970, 96 percent of American households had at least one television.
Types of economic growth: There are two types of economic growth: 1.Balanced Economic Growth 2.Un-balanced Economic Growth 1.Balanced Economic Growth: All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth. 2.Un-balanced Economic Growth: When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.
It created rapid economic growth during his time in office.
economic growth
An economic growth_______ is a time of fast economic growth
Economic growth is the growth of people which causes economic development, the growth/development of cities/towns. (i.e. businesses and buildings)
The outcome of the Slovak reforms is the major economic improvements achieved in a short period of time. Slovakia enjoyed solid economic growth of 6 percent in 2005 and managed to push registered unemployment down to 11.4 percent in 2005.