USA HISTORY

Detailed explanation-1: -A boom is characterized by a period of rapid economic growth whereas a period of relatively stagnated economic growth is a recession. These are measured in terms of the growth of the real GDP, which is inflation-adjusted.

Detailed explanation-2: -Rapid growth of population is known as Exponential growth where the population is increased with the constant increasing birth rate and is never limited to food and diseases. The birth rate alone controls the growth of population. This accelerating pattern of increasing population size is called as exponential growth.

Detailed explanation-3: -In addition, the Industrial Revolution, which brought about an unprecedented demographic explosion. In the 19th century, the population doubled and in the 20th century, it even tripled, reaching 6 billion in the year 2000. Medical, scientific and economic advances led to this exponential growth.

Detailed explanation-4: -A growing population leads to an increase in total output. The sheer arithmetical increase in population creates work as well as incentives for production that impacts upon output and productivity quite favourably. Indeed, this argument is empirically important in addition to theoretical reasoning.

Detailed explanation-5: -According to the United Nation’s population projections, India’s population will increase by a multiple of 1.09 between 2021 and 2031. This number was 1.25 between 1981 and 1991. From 2060 onwards, India’s population will start falling, which happens when fertility rate falls below replacement levels.