Economic Output Growth Measure

An Economic Output Growth Measure is an economic change measure based on an economic output measure (typically market value).

• Context
  • It can produce an Economic Output Growth Value.
  • It can range from being an Annual Economic Output Growth Measure to being a Quarterly Economic Output Growth Measure to ...
  • It can range from being a Global Economic Output Measure to being a National Economic Output Measure to being a Provincial-State Economic Output Measure to being a Municipal Economic Output Measure to being a Household Economic Growth Measure.
  • It can range from being a Total Economic Output Growth Measure to being a per Capita Economic Output Growth Measure.
  • It can be associated to a Worker Output Growth Measure.
  • …
• Example(s):
  • the World Bank's GDP Growth Metric.
  • a GNP Growth Metric.
  • Economic Productivity Growth Metric.
  • …
• Counter-Example(s):
  • Return on Capital.
  • Demographic Change Measure.
• See: Economic Measure, Economic Recession, Business Cycle, Aggregate Economic Demand.

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References

2014

• (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/economic_growth Retrieved:2014-7-27.
  • Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita), which is also called per capita income. An increase in growth caused by more efficient use of inputs is referred to as intensive growth. GDP growth caused only by increases in inputs such as capital, population or territory is called extensive growth. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. [[Measures of national income and output|Measurement of economic growth]] uses national income accounting. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at “full employment”. As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic aspects of the development process in low-income countries (See also: Economic development). Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. For example, GDP only measures the market economy, which tends to overstate growth during the change over from a farming economy with household production. An adjustment was made for food grown on and consumed on farms, but no correction was made for other household production. Also, there is no allowance in GDP calculations for depletion of natural resources.

2011

• http://www.who.int/trade/glossary/story019/en/
  • This is defined as an increase in a country's national income or per capita national income. Growth is fundamental to development and thus the advancement of human welfare. Some argue that an expanding economy can coexist with problems of income inequality and poverty. They point out that economic growth does not always lead to improvements in health and education, and conversely that improvements in health and education are not necessarily dependent on economic growth. Brazil has managed to achieve impressive gains in reducing infant mortality and increasing school enrollment during a period of just 1% growth in gross domestic product (GDP) per capita a year and an increasingly tight fiscal environment.

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