A nations economic growth can be measured either as an increase in real GDP over time or
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A nation’s economic growth can be measured either as an increase in real GDP over time or as an increase in real GDP per capita over time. Real GDP in the United States has grown at an average annual rate of about 3.2 percent since 1950; real GDP per capita has grown at roughly a 2 percent annual rate over that same period.
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Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
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