What happens when the economy is good?
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A growing or more productive economy makes more goods and provides more services than before. ... Growth has to be measured in the value of goods and services, not only the quantity. Another problem is not all individuals place the same value on the same goods and services
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A growing or more productive economy makes more goods and provides more services than before. However, some goods and services are considered more valuable than others. For example, a smartphone is considered more valuable than a pair of socks. Growth has to be measured in the value of goods and services, not only the quantity.
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