January 2019
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... Economic growth is the continuous expansion of an economy's productive potential; it means that the capacity utilization to produce goods and services and to meet the wants of the populace is increased. Apart from the productive expansion in the goods market, it also refers to a situation whereby improvements in the quality and quantity of resources (including technological improvements) contribute to the overall growth in the actual domestic output of an economy (Jacob et al., 2019a). The measurement of economic growth could be in either real or nominal terms; real growth implies that inflationary and exchange rate adjustments have been considered. ...
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January 2019