economic growth 🚨🚨

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6 Terms

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Economic growth

Growth on GDP (value of output) over time

2
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Gross domestic product (GDP)

The total value added of goods and services produced in the country in a year

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GDP per capita

GDP divided by the population

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Boom

A period of huge economic activity and high levels of employment

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Recession

A period of time when a country’s GDP falls for two (or more) consecutive quarters

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Labour force (workforce)

The number of people who work in a country