What is the difference between economic growth and expansion.?

Question

What is the difference between economic growth and expansion.?

And

What are the Cost of inflation? Please give atleast two examples.

Answer 1

Economic growth refers to the growth of the economy in terms of real GDP. Expansion is the phase in the business cycle in which this economic growth is occurring.

The costs of inflation means that the price level increases. This then reduces the purchasing power of a dollar and thus effectively lowers the incomes of households, since they can no longer purchase the same amount of stuff they once could with the same amount of money. It also causes erosion of personal savings, since the money is not worth as much any more.

Answer 2

Economic Expansion Definition

Answer 3

no longer just about as much as there use to be, because of fact cultural themes have become greater substantial to voters. traditionally the Republicans supported organisation pastime and wanted low taxes and a balanced funds and as little spending as accessible on social amenities yet supported spending on infrastructure and protection. The Democrats wanted greater social amenities paid for by larger taxes on the rich and subsidized regulations for workers rights and unions. The Republican have been loose procuring and advertising and the Democrat wanted cost lists to guard American workers opposition of inexpensive distant places hard artwork, yet that no longer divides the events yet is now a divide between areas. once you inspect the definitely place of the politicians the present Republicans look to in basic terms care approximately low taxes and the Democrats approximately social amenities and no person cares approximately balancing the cost selection different than as a slogan