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Explaining Economic Growth

Level:
AS, A Level
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC
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This year 1 Macroeconomics topic video explains what economic growth is and also makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.

The chart below tracks the annual percentage change in real national income (GDP) for the UK drawing on data from the IMF's latest macroeconomic forecasts.

Real gross domestic product (GDP) growth rate from 2012 to 2022 (compared to the previous year)
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