WHAT IS ECONOMIC GROWTH
From two perspective we can interpret economic growth of an economies (Mankiw & N. G. R. E. G. O. R. Y, 2014).
1. The most popular way to define economic growth as the total increase of output which an economy produce over a given period of time , but time constraints at least two year .
2. Secondly we can define economic growth as increase in what a nation can produce if it is using all the scarce resources it has. Economic growth can be shown by an outward shift in…