Question

"Statistical information is necessary to know the direction and condition of growth of an economy." Explain.

Please answer as per GSEB Class 11 Economics TB. ​

Answer 1

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.

Explanation:

Answer 2

Answer:

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