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.
Ok . What should I do ????????
Answer:
Sparta
Explanation:
Their culture revolves around sending boys to intense and rigorous military training from a young age. Protecting the city-state was very important.
Base on the question that ask to choose among the following choices that states the Great Compromise in drafting the new constitution and base on my research and further investigation, the possible answer would be a plan to create a federal judiciary with state nominees. I hope you are satisfied with my answer
Answer:
i think this is it
Explanation:
China is North Korea's largest trade partner, while North Korea ranked 82nd on the list of China's trade partners (2009 estimate) China provides about half of all North Korean imports and received a quarter of its exports. By 2011 trade had increased to $5.6 billion (₩5.04 trillion).
