What is Economic Growth Rate?
A measure of economic growth from one period to another in percentage terms. This measure does not adjust for inflation, it is expressed in nominal terms.
In practice, it is a measure of the rate of change that a nation’s gross domestic product goes through from one year to another. Gross national product can also be used if a nation’s economy is heavily dependent on foreign earnings. Read more for examples and further explanation including related video clips and also comments
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