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.
Date: June 21, 1861
Commander (Confederate):
P. G. T. Beauregard
Thomas "Stonewall" Jackson
<span>Joseph E. Johnston
Commander (Union):
Winfield Scott
Irvin McDowell
Robert Patterson
Amount of people killed & wounded: ~4500
State that it was fought in: North of Manassas, Virginia
hope this helps</span>
The map on the Austria-Hungarian Empire shows that Austria-Hungary was home to many different ethnic groups.
<h3>What was the population of Austria-Hungary like?</h3>
Austria-Hungary was populated by several ethnic groups which made it quite complicated to govern.
There were Germans and Austrians, Hungarians, Serbians, Bosnians, and Czechs. The empire therefore had several ethnic groups.
Find out more on Austria-Hungary at brainly.com/question/24213561.
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the answer is not part I think
