Economic Growth

Title: Economic Growth
Category: Literature / English | Words: 1257 | Pages: 5.3 (approximately 235 words/page)

Economic Growth

WHAT IS ECONOMIC GROWTH? The government’s objective of sustainable economic growth seeks to achieve consistent economic growth at around 4-4.5%; avoiding both the excessive growth likely to damage the goals of price stability and equity and also avoiding insufficient growth that is likely to result in increased unemployment, lower living standards and inequity. The most common method of measuring economic growth is the chain volume measure of GDP (Gross Domestic Product). The GDP measures the …showed first 75 words of 1257 total…

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…showed last 75 words of 1257 total…which has performed relatively well (that is relative to Japan and the US). This year the government saw fit to increase its expenditure to stimulate the economy after the shocking 1.9% growth. Another significant area of government stimulation was in the all-important construction industry (the biggest component of consumer spending) that suffered a huge 20.6% drop in the advent of the GST. In came the first home-buyers scheme and growth shot up 18.1%, close to where it started.

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