economic growth

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  • Created by: ishah
  • Created on: 10-05-13 22:10
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  • economic growth
    • output of economy ^
    • measured - GDP -/+ growth
    • gap output - diff' between actual and potential output
    • benefits
      • more of everything
        • consumer goods
          • may increase living standards
            • wealth may 'trickle down' by tax and benefits
    • improvement welfare
      • provision of services
        • pension
        • benefits
        • infrastructure
    • costs
      • income unequally distributed
      • growth from weapon spending
      • pollution
      • finite resources

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