economic growth


Definition
A positive change in the level of production of goods and services by a country over a certain period of time. Nominal growth is defined as economic growth including inflation, while real growth is nominal growth minus inflation. Economic growth is usually brought about by technological innovation and positive external forces.


Related Terms

economic growth rate -  More

accommodative monetary policy -  More

budget surplus -  More

Mentioned in these terms

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economic growth is ...

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