Economists often measure economic growth by inflation-adjusted increases in a nations gross domestic product (GDP), the aggregate measure of economic activity. An alternate measure is the rate of increase in personal incomes, measured by per capita GDP. Rates of economic growth vary across nations, causing many economists to ask what factors contribute to that growth. Knowing what factors determine economic growth helps explain the differences in prosperity that exist across nations.
Posted on: Mon, 02 Jun 2014 15:16:25 +0000
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