Economics Today: The Macro View (18th Edition)
Economics Today: The Macro View (18th Edition)
18th Edition
ISBN: 9780133884876
Author: Roger LeRoy Miller
Publisher: PEARSON
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Chapter 9, Problem 9.2LO
To determine

The importance of productivity growth, savings and technology in economic growth.

Concept information:

Economic growth rate refers to the rate at which the output of an economy increases overtime. It is used as an indicator of economic well-being of a nation. Economic growth is used as the most powerful instrument for reducing poverty and improving the standard of living of the residents of a country.

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