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Exponential growth is a process that increases quantity over time at an ever-increasing rate. It occurs when the instantaneous rate of change (that is, the derivative) of a quantity with respect to time is proportional to the quantity itself. Described as a function, a quantity undergoing exponential growth is an exponential function of time ...
The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period ...
A Malthusian growth model, sometimes called a simple exponential growth model, is essentially exponential growth based on the idea of the function being proportional to the speed to which the function grows. The model is named after Thomas Robert Malthus, who wrote An Essay on the Principle of Population (1798), one of the earliest and most ...
Compound annual growth rate ( CAGR) is a business, economics and investing term representing the mean annualized growth rate for compounding values over a given time period. [1] [2] CAGR smoothes the effect of volatility of periodic values that can render arithmetic means less meaningful. It is particularly useful to compare growth rates of ...
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth. It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress. At its core, it is an aggregate production function, often ...
The Harrod–Domar model is a Keynesian model of economic growth. It is used in development economics to explain an economy's growth rate in terms of the level of saving and of capital. It suggests that there is no natural reason for an economy to have balanced growth.
The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, [1] with significant extensions by David Cass and Tjalling Koopmans. [2] [3] The Ramsey–Cass–Koopmans model differs from the Solow–Swan model in that the choice of consumption is explicitly ...
Doubling time. The doubling time is the time it takes for a population to double in size/value. It is applied to population growth, inflation, resource extraction, consumption of goods, compound interest, the volume of malignant tumours, and many other things that tend to grow over time. When the relative growth rate (not the absolute growth ...