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

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2
Q

Potential eg

A

Rate of growth of potential output, output that could be produced with full employment of resources

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3
Q

Economic growth

A

Increase in real output of an economy

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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

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5
Q

Sustainable growth

A

Rate of growth that can be maintained without creating other significant economic problems particularly for future generations

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6
Q

Sustained eg

A

Rate of growth that do be maintained over a period of time without increasing inflationary pressures

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