Define do you mean by gdp growth, Macroeconomics

Q. Define do you mean by GDP growth?

By (nominal) GDP-growth we mean the percentage change in (nominal) GDP over a specific period of time. Real GDP growth is defined as percentage change in real GDP. Real growth tells us how much the economy has grown during a specific period when effect of inflation is removed.

Posted Date: 8/13/2013 2:06:46 AM | Location : United States

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