Economic growth flashcards

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Economic growth is best defined as an increase in either real GDP or real GDP per capita
Why is economic growth important It is important because it lessens the burden of scarcity
Given the annual rate of economic growth, the "rule of 70" allows one to calculate the number of years required for real GDP to double

Economic growth is best defined as an increase in

Why is economic growth important

Given the annual rate of economic growth, the "rule of 70" allows one to

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