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What are economic growth and the growth rate?
Economic grow:
It rise in a country is real level of national output like measured through Gross Domestic Product (GDP). When GDP raises over time here is economic growth.
The rate of economic grows: It the percentage raise into real GDP over twelve months.
Members of the Organization for Economic Cooperation and Development are: 20 countries formerly signed the Convention on the Organization for Economic Co-operation and Develop
what is phillips curve
Explain the concept of diminishing returns to labor.
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