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.
The American Revolution had an important alliance with France in 1778, after having their trust by winning the battle in Saratoga. The French not only recognized the new United States but also trade concessions and privileges. One year later in 1779, Spain joined the war against the UK in the side of France. The French decision to join the infant United States in its fight for independence was by far the most important factor in America’s winning the Revolutionary War.
D. He published a newspaper that spoke out against slavery.
Roundheads were Parliamentary/Puritan soldiers who wore tight fitting un-orimented metal helmets, while Cavaliers were kings men who wore large hats with feathers as their uniform headdress.
Some differences between the round-heads and the cavaliers are that the cavaliers supported the King and the round-heads supported Parliament.
It is true to say that modernism describes cultural movements rooted in changes in Western society in the late 19th and early 20th centuries.
<h3 /><h3>What is modernism?</h3>
It is an artistic and cultural movement with characteristics focused on breaking traditionalism, generating a deconstruction of artistic production patterns, establishing formal freedom as the main characteristic of the movement.
Therefore, modernism was the movement that sought the fragmentation of patterns, with aesthetic renewal and experimentalism in the arts and culture in general.
Find out more about modernism here:
brainly.com/question/25078409
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