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How do economists understand the nature of growth? For example, if US Nominal GDP (Gross Domestic Product not adjusted for inflation) was $20 trillion in
How do economists understand the nature of growth? For example, if US Nominal GDP (Gross Domestic Product not adjusted for inflation) was $20 trillion in 2018 and rose to $22 trillion in 2019, what was the rate of growth from 2018 to 2019? Is there more than one way to measure growth? If so, explain. What does a negative growth rate mean? Can you cite an example of a negative growth scenario
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Macroeconomics Theories and Policies
Authors: Richard T. Froyen
10th edition
013283152X, 978-0132831529
