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What are the two ways to measure economic growth Why is economic growth important What are the two sources of economic growth?
Wiki User
∙ 13y ago
ways to measure economic growth:
1 GDP- gross domestic product
2 GNP- gross national product
These show how much money is flowing around the economy
hope this helps
Wiki User
∙ 13y ago
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What is Labor Productivity and how is it important to economic growth?
Labour productivity is defined by the OECD to be "the ratio of a volume measure of output to a volume measure of input" OECD Manual: "Measuring Productivity; Measurement of Aggregate and Industry-Level Productivity Growth. Labour productivity is important to economic growth because without it no one would be working.
Which economic indicator does not measure economic growth?
Unemployment rate
What doesn't measure economic growth?
everything
What is the official measure of economic growth called?
The official measure of economic growth is called Gross domestic product ( gdp) . I remember learning it in business
What is one important measure of a country's economic health?
"Gross domestic product" is the most commonly used as is the % growth or decline in that number.A key driver of economic growth is the degree of corruption in the country. This correlates very highly with retarded growth in the future.
Why is productivity important to economic growth?
because the better the productivity the better the nations economic growth.
What is Economic growth is a measure of the increase in?
the gross domestic product.
What indicators does not measure economic growth?
Economic growth can be measured in nominal terms, which include inflation. The growth of an economy is thought of not only as an increase in productive.
What does the level of a nation's GDP measure?
It measures the economic growth of a country,
Why is real GDP used to measure economic growth?
a real lady
Why is economic activity important?
because it stimulates growth
The most important driver for economic growth appears to be?
The most important driver for economic growth is infrastructure. If a country has a sound infrastructure then businesses will come and increase the economy.
