Economic Growth
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/7
Earn XP
Description and Tags
Last updated 4:41 PM on 11/23/24
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
8 Terms
1
New cards
Economic growth
when RGDP of a country increases over time
2
New cards
Indicator of EG and why
RGDP because EG is a quantitative concept
3
New cards
Real GDP
the total output produced in an economy
4
New cards
Real gdp per capita is
output per person
5
New cards
real gdp per capita is better indicator….
of the amount of standard of living
6
New cards
benefit of economic growth
increase real GDP, increase standard of living, increase national income, increase government revenue
7
New cards
short term economic growth
short term economic growth is caused mainly by increases in AD and increases in SRAS →correspond to expansion of real GDP in the business cycle diagram
8
New cards
