An indicator of growth in an economy over a period of time is the
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An indicator of growth in an economy over a period of time is the Gross Domestic Product (GDP) at market price.
GDP is a measure of the total value of goods and services produced within a country's borders during a specific time period, usually a year. The GDP at market price includes the total value of all final goods and services produced in an economy, including those that are exported and those that are consumed domestically.
An increase in the GDP over time indicates that the economy is growing, as it suggests that the country is producing more goods and services than it did in the previous period. This growth can be driven by various factors, such as increased investment, technological advancements, or improvements in productivity.
The GDP at factor cost is another measure of the value of goods and services produced in an economy, but it does not include indirect taxes and subsidies, while the GDP deflator is an index that measures the level of prices of all goods and services included in the GDP. The GDP gap, on the other hand, is the difference between the actual GDP and the potential GDP of an economy, and it is used to measure the level of economic underutilization or overutilization of resources.