Economic Growth and Living Standards
Economic growth means an increase in a country's total output over time, usually measured as the percentage change in real GDP, GDP adjusted for inflation so the comparison reflects an actual increase in production rather than just rising prices. Sustained economic growth generally raises a country's average standard of living over the long run, though growth does not automatically benefit everyone in a country equally, since how those economic gains get distributed is a separate question from how large the gains are in total.
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