Two common measures of the rate of economic growth are the rates of growth of

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Real GDP (gross domestic product) measures the total output of goods and services produced in an economy. Real per capita GDP measures the output per person in the economy. These two measures are widely used as indicators of economic growth because they capture the overall size of the economy and the average standard of living of the population. Other choices, such as income and consumption, full-time unemployment and prices, or the money supply and income, may also be important for understanding the state of the economy, but they are not as commonly used as measures of economic growth. Real population and full-time employment do not measure economic growth directly, but they may be important factors affecting it.

Two Common Measures of the Rate of Economic Growth Are