An economic growth model explains changes in

Name: An economic growth model explains changes in
Brand: Quizplus
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Question

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An economic growth model typically focuses on explaining changes in real GDP per capita over the long run. This is because economic growth is a gradual process that occurs over a period of years or decades, rather than sudden changes in output that occur in the short run. Real GDP per capita is used instead of nominal GDP per capita because it controls for changes in prices due to inflation or deflation.

An Economic Growth Model Explains Changes in