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blsea [12.9K]
2 years ago
9

The decline of the united states standing in industrial power since the 1960s is considered a relative decline because it is a r

eflection of?
History
1 answer:
Natasha2012 [34]2 years ago
4 0

The decline of the united states standing in industrial power since the 1960s is considered a relative decline because it is a reflection <u>of the faster </u><u>economic</u><u> </u><u>growth</u><u> of other countries.</u>

<u />

Economic growth may be defined as the increase or improvement in the inflation-adjusted marketplace price of the goods and services produced by an economy over a certain period of time. Statisticians conventionally measure such a boom because of the percent fee of increase in the actual gross home product, or real GDP.

Broadly talking, there are main resources of economic growth: growth in the size of the workforce and increase in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy however only a strong productivity increase can increase per capita GDP and earnings.

The economic increase is driven oftentimes by consumer spending and business investment. Tax cuts and rebates are used to return money to consumers and boost spending. Deregulation relaxes the rules imposed on businesses and has been credited with creating growth but can lead to excessive risk-taking.

learn more about economy here brainly.com/question/1106682

#SPJ4

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