Answer :
Countries such as Japan and Germany are characterized as being in the fifth stage of Rostow’s five-stage model of economic growth.
Economic growth can be described as the boom or development in the inflation-adjusted market price of the products and services produced through an economic system over a sure period of time. Statisticians conventionally degree such boom as the percent rate of increase in the real gross domestic product, or real GDP.
Boom is usually calculated in real phrases – i.e., inflation-adjusted terms – to put off the distorting effect of inflation on the charges of goods produced. size of financial increase uses country-wide income accounting. since the economic boom is measured as the annual percent alternative of gross domestic product (GDP), it has all the benefits and downsides of that measure. The economic increase-charges of nations are normally as compared to the usage of the ratio of the GDP to population (per-capita income).
The "charge of financial growth" refers back to the geometric annual charge of growth in GDP among the primary and the closing 12 months over a time period. This boom rate represents the trend inside the common stage of GDP over the duration and ignores any fluctuations inside the GDP around this fashion.
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