Before the period of modern economic growth, Multiple Choice only civilizations such as the Roman Empire experienced economic growth. rates of population growth virtually matched rates of output growth. most economies realized high rates of growth in output per person. output and population growth were stagnant.

The production of products and services by an economy during a given time period increasing is referred to as economic growth. Real gross domestic product, which is GDP corrected for inflation, is used to measure the rise. All of the finished commodities and services generated in an economy are valued in a market in terms of GDP.

The following factors contribute to this form of economic growth:

more resources
better resources
improved technology.

What is the growth of the modern economy?

The fundamental focus of contemporary theories of economic growth is on two ways that spending on the primary source of knowledge advances might stimulate growth. The impact on the stock of knowledge phenomenon is the second channel after the impact on the available commodities and services.

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