Economy, asked by jiyarawal, 9 months ago

(5) "Statistical information is necessary to know the direction and condition of growth of an economy"
explain.

Answers

Answered by Anonymous

Answer:

The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend.

Answered by ayushkariya42

Answer:

The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend.

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