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What does annual economic growth refer to?
Annual economic growth refers to the yearly increase in the market value of services and goods that are produced during a year. Inflation and annual increases in the output of the services and goods are part of the economic growth of a country.
What areas expierneced economic growth during the 1920s and 1930s?
Economic growth occurred because of the news sales of goods.
Should economic growth be sacrificed if necessary in order to reduce poverty?
No. Economic growth is the best way to reduce poverty. Economic growth creates jobs. Economic growth should not be sacrificed, it should merely be more inclusive. More people should experience the benefits of it. Economic growth is a good thing. When economic growth slows or stops, people start worrying about themselves and stop worrying about others. When economic growth is good and people have jobs and money, they are more interested in helping others. When corporations make money, they expand and hire more people. Then those people have money to purchase goods and services. The companies who sell those goods and services hire people to produce those goods and provide those services.
How is economic growth represented?
Economic Growth can be represented as the rise in the real GDP 9total value of goods and services in a country) over a period of time (usually 1 year)
Economic growth occurs when more resources are available true or false?
True Economic growth occurs when there is an increase in the production of goods and services (GDP) of a certain period of time. With more resources available more goods or services can be produced
What does annual economic growth refer to?
Annual economic growth refers to the yearly increase in the market value of services and goods that are produced during a year. Inflation and annual increases in the output of the services and goods are part of the economic growth of a country.
What areas expierneced economic growth during the 1920s and 1930s?
Economic growth occurred because of the news sales of goods.
Should economic growth be sacrificed if necessary in order to reduce poverty?
No. Economic growth is the best way to reduce poverty. Economic growth creates jobs. Economic growth should not be sacrificed, it should merely be more inclusive. More people should experience the benefits of it. Economic growth is a good thing. When economic growth slows or stops, people start worrying about themselves and stop worrying about others. When economic growth is good and people have jobs and money, they are more interested in helping others. When corporations make money, they expand and hire more people. Then those people have money to purchase goods and services. The companies who sell those goods and services hire people to produce those goods and provide those services.
What happens to the economy during a recession?
An Economic Recession is a period of economic contraction (The Growth Rate shrinks and becomes stagnant)
How is economic growth represented?
Economic Growth can be represented as the rise in the real GDP 9total value of goods and services in a country) over a period of time (usually 1 year)
Economic growth occurs when more resources are available true or false?
True Economic growth occurs when there is an increase in the production of goods and services (GDP) of a certain period of time. With more resources available more goods or services can be produced
Which factor did not contribute to the growth of the South's population during the 1970's?
One factor that did not contribute to the growth of the South's population during the 1970s was economic growth. While economic growth can often attract people to an area and contribute to population growth, the South experienced slower economic growth compared to other regions during this time period. Factors such as increasing job opportunities and favorable business conditions were not as prominent in the South during the 1970s, which limited its population growth.
The measurement of economic growth begins with the Gross National Production?
The measurement of economic growth begins with the Gross National Production. This is the measure of all the good and services that are produced by a country.
What economic theory encourages growth in the amount of goods and services available?
supply-side economics
Does economic growth solves the problem of scarcity?
Yea of course....its due to economic growth goods and services are produced at large and hence fight the problem of scarcity as everyone will be able to consume goods
Which countries had economic growth during the great depression?
soviet union
Does the amount of goods and services produced set the pace for economic growth?
It is demand that sets the pace for economic growth. Without demand, all the produced goods and services would just sit around being bored. The amount of goods and services produced is a direct indication of demand if you want to look at it that way.
