Tall oaks from little acorns grow.
...anonymous
Some acorns grow into oaks, others are eaten by
squirrels. Some squirrels prosper, others get flattened by semi-trailers on the
highway. In a similar vein, some economies grow while others become
international road kill.
Growth matters. Small changes in annual growth rates can
make an enormous difference in standards of living. An economy growing at just
2% annually will quadruple in size over a lifetime of 70 years. Measuring
economic growth is tricky; creating it can be more difficult still.
What are the issues?
III-A. GDP: Equilibrium and growth
Equilibrium GDP
and economic growth
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