Economic growth is usually associated with technological changes. An example is the large growth in the U. S. Economy during the introduction of the Internet and the technology that it brought to U. S. Industry as a whole. The growth of an economy is thought of not only as an increase in productive capacity but also as an improvement in the quality of life to the people of that economy. Refine Your Financial Vocabulary Gain the Financial Knowledge You Need to Succeed.
Investigations FREE Term of the Day helps you gain a better understanding of all things financial with technical and easy-to-understand explanations. Click here to begin developing your financial language with this daily newsletter. N increase in the capacity of an economy to produce goods and services, compared from one period of time to another. Economic growth can be measured in nominal arms, which include inflation, or in real terms, which are adjusted for inflation.
For comparing one country's economic growth to another, GAP or GNP per capita should be used as these take into account population differences between countries. Gain the Financial Knowledge You Need to Succeed. Investors IA d 's FREE Term to the large growth the U S. Economy during the introduction to the Internet and to increase in the capacity to an economy to produce goods and services, compared.
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