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Economic growth - Coggle Diagram

- - - - underemployment is reduced; idle resources and unemployment reduced
      - inflationary pressures build up
      - excess labour demand > real wage growth outstripping productivity growth.
      - Unit labour cost ^
      - GDP growth moderates towards potential growth
    - - ^ in spare capacity and unemployment
      - growing gap between potential and actual output
- - - - Such as
        
        Physical Quality of Life Index
        
        Measure of Economic Welfare
- - - - loss of output and welfare
      - increased unemployment
      - strain on government budgets
      - Negative outlook and pessimism
      - Deflationary spiral