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latest Student - 08 - Economic Growth.pdf 2020
- Exam (elaborations) • 22 pages • 2021
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Economic growth is a sustained expansion of production possibilities

measured as the increase in real GDP over a given period

Economic growth rate is the annual percentage change of real GDP

– Real GDP G.R =

Real GDP in current year −Real GDP in previous year

Real GDP in previous year X100

– OR gy (t − 1,t) = Yt−Yt−1

Yt−1

¬ gy (t − 1,t) is the GDP growth rate from period t-1 to period t

¬ Yt is the GDP in ye
Exam (elaborations)
latest Student - 08 - Economic Growth.pdf 2020
Last document update:
ago
Economic growth is a sustained expansion of production possibilities 
measured as the increase in real GDP over a given period 
Economic growth rate is the annual percentage change of real GDP 
– Real GDP G.R = 
Real GDP in current year −Real GDP in previous year 
Real GDP in previous year X100 
– OR gy (t − 1,t) = Yt−Yt−1 
Yt−1 
¬ gy (t − 1,t) is the GDP growth rate from period t-1 to period t 
¬ Yt is the GDP in ye
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