Economics
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Boundless Economics
Economic Growth
Economics Textbooks Boundless Economics Economic Growth
Economics Textbooks Boundless Economics
Economics Textbooks
Economics

Section 2

Assessing Growth

Book Version 3
By Boundless
Boundless Economics
Economics
by Boundless
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4 concepts
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Calculating Economic Growth

Economic growth is the increase in the market value of goods and services produced by an economy over time; the percentage rate of increase in the GDP.

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Growth in the United States

The economy in the United States is the world's largest single national economy; 2013 GDP estimation was $16.6 trillion.

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Growth in the Rest of the World

On a global scale, economic growth is the sum of the growth of individual countries to give a worldwide total.

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Catch-Up: Possible, but not Certain

Developing countries can catch up to developed countries by achieving growing faster, which is determined by a wide number of country-specific factors.

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