What is Growth: Definition and 325 Discussions

Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such growth as the percent rate of increase in real gross domestic product, or real GDP.Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income).The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend.
Economists refer to an increase in economic growth caused by more efficient use of inputs (increased productivity of labor, of physical capital, of energy or of materials) as intensive growth. In contrast, GDP growth caused only by increases in the amount of inputs available for use (increased population, for example, or new territory) counts as extensive growth.Development of new goods and services also generates economic growth. As it so happens, in the U.S. about 60% of consumer spending in 2013 went on goods and services that did not exist in 1869.

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  1. N

    Jack's Growth: From 90cm to 105cm in 1 Year

    Homework Statement Emily's brother, Jack, is now 105cm tall, having grown by one sixth of his height a year ago. How tall was Jack one year ago? Homework Equations Now my teacher told me to do this: x = 105 - (105/7) x = 105 - 15 x = 90 cm The Attempt at a Solution So 90cm is the answer...
  2. I

    What is the Exponential Growth Rate of Cells under a Microscope?

    Homework Statement There are initially two cells seen through a microscope. every hour, a computer was tasked with taking a cell count through the microscope. Taking the sum of all the cell counts after the 7th hour, the total cell count was 280 cells. Find the exponential growth rate...
  3. A

    MHB Calculating Logistic Growth Rate

    I have a logistic growth problem. I know this because there is an upper limit of approximately 21,000 people. I need to calculate growth rate. Would it be something as simple as taking two populations and dividing them to get the rate (X2-X1/X1) to obtain it or is there an equation I am missing...
  4. L

    Optimization growth rate Question

    First post on these forums, thanks all for your help! Homework Statement It is estimated that the growth rate of the fin whale population (per year) is rx(1 - x/K), where r = 0.08 is the intrinsic growth rate, K = 400,000 is the maximum sustainable population, and x is the current population...
  5. H

    MHB Exponential Growth and Differential Equation

    a) On January 1 2000, the park estimated that they had 500 deer on their land. Two years later, they estimated that there were 550 deer on the land. Assume that the number of deer was changing exponentially, i.e. P(t)=ae^bt where P is the number of deer at year t, and a and b are parameters.Find...
  6. H

    What Causes the Crooked Growth of Trees on the Saskatchewan Hillside?

    When a tree grows even at an angle on a hill side it mostly remains vertical . What is at play here to cause the vertical direction of growth ? Thank you, Pat Hagar
  7. J

    What does exponential growth really mean?

    I've always thought that when people say exponential growth, they mean e^x. But other times I hear people just say that the quantity doubles 2^x every time. So which is it? And if it's just doubling, why don't we say that 3^x or 4^x is exponential growth as well, since that's what those...
  8. T

    Find the growth factor problem

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  9. NanaToru

    Different types of exponential growth equations?

    Homework Statement A bacteria culture initially contanis 100 cells and grows at a rate proportional to its size. After an hour the population has increased to 420. a. Find an expression for the number of bacteria after t hours. b. find the number of bacteria after 3 hours c. find the rate of...
  10. M

    Find the growth of temperature of the gas

    Homework Statement A mass of 3 mole gas is heated in a constant pressure of 1.5 atm, expanding from 40 litre to 60 litre. Find the temperature growth. Homework Equations V1/V2=T1/T2. The Attempt at a Solution I thought to write V1/V2=T1/T2. But I don't know T1. The answer is 121 K in my book.
  11. Christo

    Population Growth Equation

    1. The population of a certain country grows according to the formula: N = N0e^kt Where N is the number of people (in millions) after t years, N0 is the initial number of people (in millions) and k = 1/20 ln 5/4. Calculate the doubling time of this population. Leave your answer in terms of ln...
  12. Suraj M

    What is the growth on metal railings and how can it be removed?

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  13. N

    Population growth problem

    1. The Problem In the mythical country of Myland, the population recently reached 10 million. At that time, a popular news magazine predicted that with an average yearly growth rate of 2%, the population would be 20 million in 50 years. How does this value (18 million) compare to the value...
  14. J

    MHB Sand Pile Growth Rate: 10 Seconds After Falling

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  15. J

    How to approximate the rate of growth of an integer sequence?

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  16. I

    MHB Growth proportional to square root of worth.

    Hi! :o I'm stuck :confused: I was thinking I need to use the equation $f=kw^2$ but I'm really not sure.
  17. G

    Average percent growth per year

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  18. TESL@

    Adding salt and water to fibroblast growth medium

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  19. R

    Why Does Fluorescence Decrease During the Lag Phase in 3T3 Cell Growth Curves?

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  20. C

    Logistical Growth model

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  21. H

    Discrete logistic equation, restricted growth model

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  22. A

    MHB Exponential Growth And Composite Functions

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  23. A

    MHB Related Rates and Exponential Growth

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  24. A

    MHB Half Life and Exponential Growth Question

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  25. A

    MHB Composite Functions and Exponential Growth

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  26. A

    MHB Logarithmic Differentiation And Exponential Growth Questions

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  27. I

    MHB Population Growth: US Carrying Capacity & Predictions

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  28. FilupSmith

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  29. L

    Model for free market growth

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  30. marcus

    Concordance value of Hubble growth rate (2014)

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  31. E

    Probability growth with time

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  32. B

    Another Modeling Growth and Decay Problem

    Homework Statement Consider an item that is initially sold at a market price of $10 per unit. Over time, market forces push the price toward the equilibrium price, $20, at which supply balances demand. After 6 months, the price has increased to $15. the Evans Price Adjustment model says that...
  33. B

    Modeling Growth and Decay Problem

    Homework Statement Suppose water leaks out of a barrel at a rate proportional to the square root of the depth of the water. If the level starts at 36 in. and drops to 35 in. after 1 hour, how long will it take for all the water to leak out of the barrel? I have to choose and implement a...
  34. M

    Solving the Tumor Growth Problem: Find B_0, a & More

    Problem: A tumor may be regarded as a population of multiplying cells. It is found empirically that the "birth rate" of cells in a tumor decreases exponentially with time, so that birth rate is given by B(t)=(B_0)*e^(-a*t) where B_0 and a are constants. Consequently, the governing equation for...
  35. MarkFL

    MHB Bobby's question at Yahoo Questions regarding bacterial growth

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  36. N

    Atoms splitting in a nuclear reaction and Bacterial Growth

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  37. paulmdrdo

    MHB Differential equation population growth problem

    A bacterial population B is known to have a rate of growth proportional to B itself. If between noon and 2pm the population triples, at what time no controls being exerted, should B becomes 100 times? what it was at noon? using this formula $\displaystyle P(t) \;=\;P_oe^{kt}$ please help me...
  38. B

    incarceration or institutionalization can delay emotional growth

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  39. T

    Logistic Growth Models (interpreting r value)

    I originally posted this on the Biology message boards. But I have not received any responses. In models of exponential growth, we have an intrinsic growth rate (r) that is calculated as the difference of birth rates to death rates. With the logistic growth model, we also have an intrinsic...
  40. A

    Help with Logistic growth problem

    Hi all, I've got this logistic growth problem that I'm unsure of on how to start. I've read though the textbook but it's just not clicking for me; I missed a day of class and don't have a chance to go to office hours, so any help would be much appreciated. I've been given a set of values: time...
  41. A

    Help with logistic growth problem

    Hi all, I've got this logistic growth problem that I'm unsure of on how to start. I missed a day of class and don't have a chance to go to office hours, so any help would be much appreciated. I've been given a set of values: time, population, and change in population. The values are as...
  42. A

    What are the roles of gas and solid in nanowire growth using the VLS method?

    If you don't know anything about this please just read the first 20 lines on the below link and help me understand (I don't know anything either). The vapour liquid solid method: http://en.wikipedia.org/wiki/Vapor%E2%80%93liquid%E2%80%93solid_method uses a solid, liquid and gas phase to grow...
  43. T

    Logistic models and the intrinsic growth rate

    In models of exponential growth, we have an intrinsic growth rate (r) that is calculated as the difference of birth rates to death rates. With the logistic growth model, we also have an intrinsic growth rate (r). How then do birth rates and death rates relate to the intrinsic growth rate in...
  44. C

    Language growth with diffrential equations.

    Homework Statement There are now about 3300 different human "language families" in the whole world. Assume that all these are derived from a single original language, and that a language family develops into 1.58 language families every 5860 years. About how long ago was the single original...
  45. J

    Identifying Exponential Growth or Decay in (e^4-x) + 2

    Homework Statement State whether (e^4-x) + 2 is an exponential growth function or an exponential decay function. Explain why. Homework Equations I want to use the formula f(x) = ae^kx where a>0, and k<0. The Attempt at a Solution I know it is an exponential decay formula...
  46. M

    Entrainment and Jet Diameter Growth

    Hello, I am looking for some help in understanding jet diameter growth due to entrainment. I have an impingement plate positioned approximately 20 cm from the nozzle exit. Is there an equation or information that will allow me to figure out how a free jets diameter grows the further it gets...
  47. I

    MHB Exponential Growth & Decay Question

    Suppose that there is initially x(not) grams of Kool-Aid powder in a glass of water. After 1 minute there are 3 grams remaining and after 3 minutes there is only 1 gram remaining. Find x(not) and the amount of Kool-Aid powder remaining after 5 minutes… So, i set up 2 equations… 3=x(not)e^-k(1)...
  48. MarkFL

    MHB Answer αℓєєиα♥'s Logistic Population Growth Model Q on Yahoo! Answers

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  49. rshreyas

    Growth of Universe: Branching vs Other Reasons

    In this present world we can see that many objects grow branches itself for growth .For example, 1.trees grow in size and branches itself . 2.leaves also undergo the same type. 3.the lightning is also branched. 4.the cracks grow in size by branching. 5.the roots grow in size by branching...
  50. C

    Rate of growth of factorials.

    I was wondering how fast x! grows as it approaches infinity as compared to x2, 2x, and xx. The last one was fairly obvious since x*x*x*x... > x(x-1)(x-2)(x-3)... But I can't figure out a way to show that x! grows faster than x2 or 2x. I know it grows faster since I can compare the graphs of...
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