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What is an 'Economic Growth Rate' An economic growth rate is a measure of economic growth from one period to another in percentage terms. This measure does not adjust for inflation; it is expressed in nominal terms.
Due to economic growth, state increases social services without an increase in tax rates, people will enjoy high standard of living. In conclusion: Economic growth is the bloodline of every business that enables it to thrive and prosper. It is related to growth in the economic output as a whole. To determine and measure growth, there must be positive changes in the gross domestic product of a country from year-to-year.