The economic growth rates gives information on how fast the economy is growing,and is calculated by comparing the economic output (measured as the Gross Domestic Product or GDP) of two subsequent periods.
<u>The two main determinants of GDP/economic growth are:</u>
- Productivity increases caused by more efficient use of inputs (labor, capital) and implementation of innovation.
- Accumulation of physical capital
<u>Effects of economic growth</u>
- Larger amount of goods and services are available in the country and ready for consumption
- High employments levels, as workers are necessary to manufacture that large quantity of goods and services. As GDP has grown, so have done employment figures.
- More employment brings boosts on aggregate demand and generate further growth as business will keep on trying to serve the whole demand.
- As demand grows it is quite likely that prices do so too, therefore economic growth would increase the inflation rate (not necessarily a problem if such growth is not too large and remains stable).
- Productivity increases and implementation of innovations make national firms more efficient and competitive in the international markets.
Wheelchair because my uncle said so.
He was the first European to reach India by sea
Answer:
Treaty of Versailles and President Wilson's 14th points.
Explanation:
Both the Treaty of Versailles and 14th points are somewhat related as they both deals with Germany. Both tried to punish Germany because of the First World War which bought deaths and destruction.
Both wanted the return of Alsace Lorraine to France.
The 14th Points by President Wilson were less harsh than the Treaty of Versailles which was imposed by Allied powers with France, Britain, etc.
The 14 points are mainly to establish countries independence in Europe with peace. The treaty focuses on punishing the Germans by putting the blame and reparation terms.
In 1931 Japan invaded the Chinese in search of raw materials for its growing industry. By 1937 a large section of China was controlled by Japan and war crimes against the Chinese had become fairly common. Many believe that this ended up contributing to the isolation of Japan. This incident is said to have not been authorized by the Japanese government but many say the Japanese troops decided themselves.
