Economic growth is the study of the increase in production and production capacity, referring to the increase in the total output of the economy. Growth in the economy can occur as the result of the growth of the labour force or capital goods, technology, and employment productivity. Our experts can help you understand the increase in the value of goods and services in the economy, an increase in wealth and income, and measure as the percentage of GDP.
Have our experts help you understand how growth is calculated in real value, that is, adjusted for inflation, to take into account the effect of inflation on the cost of manufactured goods and services. Our experts can help you apply economic growth theory as it refers to product potential, rather than on the growth of aggregate demand or the actual product. Economic growth is measured against annual percentage change of social income. Trust the experts at Homework Help Australia, get a quote now.