Why economic growth in a certain period ?
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Most of the economic growth in the 20th century was due to increased output per unit of labor, materials, energy, and land (less input per widget). The balance of the growth in output has come from using more inputs. Both of these changes increase output. ·
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An economic growth rate is the percentage change in the value of all of the goods and services produced in a nation during a specific period of time, as compared to an earlier period
Explanation:
In most cases, the economic growth rate measures the change in a nation's gross domestic product .
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