Costs and benefits of economics growth ( OCR unit 2 GCSE)

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  • Created by: Ovais
  • Created on: 14-04-13 00:51


  • Higher GDP implies country is richer and has high living standards
  • If country is producing more, it's likely more people are employed. This reduce costs of unemployment and absolute poverty
  • If GDP is rising, the government will autmatically be earning more tax revenue from exsisting tax rates.


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