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Why do small differences in the rate of economic growth produce large differences in the size of the economy over time?
Wiki User
∙ 7y ago
The main reason is that growth is compounded. As a result the size of the economy increases exponentially and with compound exponential growth even a small difference can add up to a large difference over time.
Wiki User
∙ 7y ago
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What is an expansion of the economy to produce more goods jobs and wealth?
Economic Growth
Critics claim that this type of economic system hinders economic growth-?
Critics claim that the planned economy, unlike the market economy hinders economic growth.
How can governments promote economic growth?
How can the government promote growth in the economy
Economic growth in South Africa?
economic growth is the annual rate of increase in total production or income in the economy
To expadite the economic growth What does that mean?
To speed up or issue the growth of economy
What are the contributors to economic growth?
self controol of the economy
What does actual growth mean in economics?
I do believe that actual growth refers to the economy growing as a whole, not just certain aspects or sectors of it. If correct, then the definition of economic growth is applicable: an increase in the capacity of an economy to produce goods and services, compared from one period of time to another.
What is global economic downturn?
When the globalized economy, the economy of all countries, are in negative growth.
Economic growth is the aspiration of all developing countries Discuss whether it is always better to have economic growth in all economy?
I think economic growth is an aspiration in an developing countries I think economic growth is an aspiration in an developing countries
How economic growth of a country is measured?
Economic Growth can be defined as an increase in output produced by an economy in a period of time (usually a year) or an increase in the ability of an economy to produce goods and services. Economic Growth itself can be measured by measuring an increase in GDP, Real GDP (GDP adjusted for inflation), or Real GDP per capita (a measure of standard of living) which means the increase in real output per person.
Are there types of economic growth?
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.
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.
