Economic Growth US Economic growth can be defined as increases in per capita real GDP (gross domestic product) measured by its rate of change per year. Growth rates are very important because even a small change can make vast difference in the coming years. The knowledge of economic growth is also important because it can provide the means to allow us to gain valuable insights. According to Robert D. McTeer, president and chief executive officer …showed first 75 words of 469 total…

…showed last 75 words of 469 total…of the war. For example, for most United States households, inflation-adjusted income is no higher today than it was in 1989 when the last expansion ended; layoffs are running ahead of 1980's levels, though the job market is strong; and though business has invested heavily in the 1990's, it has not as much as in earlier expansions. In conclusion, both productivity gains and economic growth have been languid compared with performance in past expansions. ------------------------------------------------------------------------ **Bibliography**