GDPs components are consumption (C), business investment (I), government spending (Gs) and international trade (exports minus imports, X-M):
GDP=C+I+Gs+(X-M).
An increase in any of the four components of the GDP will raise the GDP, GDP per capita, and average living standards.
As we learn in this course, there are always benefits and costs to be considered in any economic process.
Class,
Please discuss why economists highlight sustainable development in the context of economic growth?
