Difference b/w gdp growth rate and economic growth rate
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Economic Growth vs GDP
Economic growth is the increase in the ability of an economy to produce goods and services over time.GDP is the monetary value of all goods and services produced in a period. Nature of Presentation :- Economic growth rate is calculated as a percentage.GDP is an absolute value. Comparison :-Since it is expressed as a percentage, economic growth is easy to compare.GDP is difficult to compare in its original form; however, GDP per capita serves as a meaningful comparison tool
Economic growth is the increase in the ability of an economy to produce goods and services over time.GDP is the monetary value of all goods and services produced in a period. Nature of Presentation :- Economic growth rate is calculated as a percentage.GDP is an absolute value. Comparison :-Since it is expressed as a percentage, economic growth is easy to compare.GDP is difficult to compare in its original form; however, GDP per capita serves as a meaningful comparison tool
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