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Economics of the Public Sector pp 452–458Cite as

Fiscal Policy in Relation to Economic Growth and the Standard of Living

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Abstract

Economic growth is a widely accepted goal of governments. It facilitates policies to maintain a high level of employment and is the only way by means of which the standard of living of everybody in the country can be increased in the long run and economic policies can begin to eliminate poverty. Economic growth can be defined as an increase in total output of goods and services over a period of time. It can therefore be expressed as a percentage change in the gross national product or national income of a country (seep. 18). It can either be measured at current prices or in real terms (see Appendix 3).

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Author information

Authors and Affiliations

  1. University of Glamorgan, UK

    D. I. Trotman-Dickenson PhD, MSc. (Econ.), B. Com. (Professor Emeritus)

Authors
  1. D. I. Trotman-Dickenson PhD, MSc. (Econ.), B. Com.
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Copyright information

© 1996 D.I. Trotman-Dickenson

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Trotman-Dickenson, D.I. (1996). Fiscal Policy in Relation to Economic Growth and the Standard of Living. In: Economics of the Public Sector. Palgrave, London. https://doi.org/10.1007/978-1-349-13264-5_22

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