What are the 2 definitions of economics growth
What are the 2 definitions of economics growth?
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Economics growth has two definitions which are given below:-
1. The increase in real GDP, that occurs over a phase of time.
2. The increase in real GDP per capita, that occurs over a time. This definition is superior if association of living standards is required. For eg: China’s GDP is $744 billion which is compared to Denmark’s $155 billion, but per capita GDP’s are $620 and $29,890 respectively.
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The dataset used in this question contains data on 180 economics journals for the year 2000. The variable descriptions are as follows: logoclc - log of the number of library subscription loglibcit - log of the library subscription price per citation.
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When turkey is $1 per pound and the relative price of ham to turkey is 2, in that case a pound of ham costs: (i) 50 cents. (ii) 1/2 pound of turkey. (iii) 2 pounds of turkey. (v) 12 pesetas. (iv) 5 euros. How can I
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