As an economic and accounting analyst, which of the two should a government pay more attention for domestic and economic growth?increase importation of goods and servicesincrease export of goods and servicesChoose the best answer and explain.

Exports refer to the sale of goods and services by the domestic producers to the customers in the…

Answered: As an economic and accounting analyst,…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 12E

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As an economic and accounting analyst, which of the two should a government pay more attention for domestic and economic growth?

increase importation of goods and services
increase export of goods and services

Choose the best answer and explain.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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