International data show a positive correlation between political stability and economic growth.Give an example of a country where the political stability lead to strong economic growth. Explain why. Give another example of a country where no strong economic growth because of no political stability. Explain why

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MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter7: Economic Growth: Theory And Policy

Section: Chapter Questions

Problem 2DQ

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International data show a positive correlation between political stability and economic growth.

Give an example of a country where the political stability lead to strong economic growth. Explain why.

Give another example of a country where no strong economic growth because of no political stability. Explain why

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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