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.
Presidential candidates now with more funding towards their campaign have a better chance of winning because they are able to run commercials and have them showed more frequently than others
Answer candidate with more money and benefit hugely for presidential campaigns
Answer: Confederate power in the New Mexico Territory was effectively broken when the campaign culminated in the Union victory at the Battle of Glorieta Pass in 1862. However, the territorial government continued to operate out of Texas, and Confederate troops marched under the Arizona flag until the end of the war.
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Answer:
mixed economy but became a market economy by reducing government laws
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