- Economic growth
Economic growth is the aggregate positive change in an economy’s capacity to produce different goods and services. Economic growth is determined by comparing the economy’s productivity between two or more periods. The measure of economic growth can take different forms such as the real and nominal form. The nominal form of measuring economic growth includes inflation. The real terms of economic growth reflect figures that are adjusted for inflation. Economic growth of different nations can be compared using the gross domestic product or the gross national product per capita.
- Regressive taxes