economic growth Flashcards
1
Q
actual eg
A
Achieved when there’s an increase in real national output in a country in a given year
2
Q
Potential eg
A
Rate of growth of potential output, output that could be produced with full employment of resources
3
Q
Economic growth
A
Increase in real output of an economy
4
Q
Inclusive growth
A
Rate of growth that is SUSTAINED over a period of time & is broad based across economic sectors for the majority of the country’s population
5
Q
Sustainable growth
A
Rate of growth that can be maintained without creating other significant economic problems particularly for future generations
6
Q
Sustained eg
A
Rate of growth that do be maintained over a period of time without increasing inflationary pressures
