Economics Keywords AS Level 0.0 / 5 ? EconomicsKeywordsASOCR Created by: IlhamCreated on: 12-09-13 19:01 Potential Growth overall capacity of an economy, how much an economy can generate if it used up all its resources 1 of 10 Nominal Growth growth in output not including any adjustment for price changes, expressed as 'current prices' 2 of 10 Real Growth growth in GDP adjusted to take account of changes in price level, expressed as 'constant prices' 3 of 10 Actual Growth annual percentage increase in output 4 of 10 Trend Growth expected increase in potential output over time. Measure of how fast and economy can grow without generating inflation 5 of 10 GDP (Growth Domestic Product) Value of output of goods and services produced by the UK in one year 6 of 10 GDP Per Capita GDP divided by population 7 of 10 Economic Growth (short run) Increase in real GDP 8 of 10 Economic Growth (long run) Increase in productive potential of an economy 9 of 10 Sustainable Economic Growth Economic growth that can continue over time and does not affect future generations in ability to expand productive capacity 10 of 10
Comments
No comments have yet been made