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Author Question: What is economic growth and how do we calculate its rate? What will be an ideal ... (Read 68 times)

xroflmao

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on: Jun 29, 2018
What is economic growth and how do we calculate its rate?
 
  What will be an ideal response?

Question 2

Define wealth, or net worth.
 
  What will be an ideal response?


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Anton

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Economic growth is the sustained expansion of production possibilities. It is measured by the increase in real GDP over a given time period. The economic growth rate is the annual percentage change in real GDP.

Answer to Question 2

Wealth or net worth is the value of all the things that you own after your liabilities are subtracted.


xroflmao

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

coreycathey

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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