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Economic Growth

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Economic Growth (complete set of study notes) - year 12 higher school economics 2009

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6 Pages Partial Study Notes > 2 Years old
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Economic Growth
Topics this document covers:
Labor Business Social Issues Gross domestic product Inflation Keynesian economics Aggregate demand Economics Macroeconomics Health Business cycle Fiscal policy Economic growth Supply-side economics Aggregate expenditure Recession
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Labor Business Social Issues Gross domestic product Inflation Keynesian economics Aggregate demand Economics Macroeconomics Health Business cycle Fiscal policy Economic growth Supply-side economics Aggregate expenditure Recession
Sample Text:
• It is measured by the annual rate of change in real GDP Economic growth = Real GDP(current year) - REAL GDP(previous year) REAL GDP (previous year) x 100 1 • The Australian bureau of statistics estimates Australia’s growth quarterly (every 3 months) Year on year growth Measuring growth in the current quarter against the same quarter in the previous year. • Annual economic growth is calculated by measuring growth over the financial year. • There are a variety of different ways of measuring GDP because of different focuses of short and long term economic policy makers. The component’s of aggregate demand Aggregate demand is based on the Economic theory which states that individuals act in the present based on their assumption of the future conditions Aggregate demand Refers to the total demand for G/S in an economy. AD=Consumption(C)+Investme...
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