Economic Growth Rate
(answers.com)Updated: 2006-09-27 10:04
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.
In practice, it is a measure of the rate of change that a
nation's gross domestic product goes through from one year to another. Gross
national product can also be used if a nation's economy is heavily dependent on
foreign earnings. 
The economic growth rate provides insight into the general
direction and magnitude of growth for the overall economy. In the United States,
for example, the long-term economic growth rate is around 2-5%, this lower rate
is seen in most highly industrialized countries. Fast-growing economies, on the
other hand, see rates as high as 10% although this rate of growth is not likely
to be sustainable over the long term.
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