Chapter 8 Show Recession is over: http://money.cnn.com/2009/10/29/news/economy/gdp/index.htm I. Introduction A. Macroeconomic Goals1. Full Employment II. Definitions of Economic Growth A. Definitions of economic growth III. Economic Growth in the United States A. Growth is an important economic goal because it means more material abundance and ability to meet the economizing problem. Growth lessens the burden of scarcity. That is why we study it. IV. Modern Economic Growth A. Modern economic growth is characterized by sustained ongoing increases in living standards that can cause dramatic increases in the standard of living within a generation. V. Institutional Structures That Promote Growth A. Table 8.2 demonstrates that poorer follower countries can catch up. But how does a country start that process? VI. Determinants of Growth - SIX FACTORS from the textbook A. Four supply factors relate to the ability to grow. - INCREASE THE POTENTIAL1. The quantity and quality of natural resources, C. Production Possibilities Analysis (Figure 8.2)1. Supply Factors shift the production possibilities outward from AB to DC in Figure 8.2 below VII. Accounting for Growth Table 8.3 VIII. The Recent Productivity Acceleration Figure 8.5 Growth of labor productivity in the US, 1973-2007 A. Improvement in standard of living is linked to labor productivity - output per worker per hour IX. Is Growth Desirable and Sustainable? A. An antigrowth view exists. (Growth is bad)1. Growth causes pollution, global warming, ozone depletion, and other problems. X. LAST WORD: Economic Growth in China A. China has been experiencing a period of remarkable economic growth.1. China's real output has grown over the past 25 years at a rate of nearly 9 percent per year, quadrupling real output over that period. REVIEW
Which of the following institutional structures promote economic growth?Which of the following are among the major institutional structures that form the foundation for modern economic growth? Strong property rights, patents and copyrights, efficient financial institutions, literacy and widespread education, free trade, and a competitive market system.
Which of the following institutions structures is most likely to promote growth?Institutional structures that promote growth include strong property rights, patents, efficient financial institutions, education, and a competitive market system.
Which of the following are growth promoting institutional structures quizlet?Which of the following are growth-promoting institutional structures? -Competitive market system. The growth-promoting institutional structure that involves the ability of citizens to own land, houses and businesses is called private rights---- (one word).
Which of the following promotes economic growth?Increases in capital goods, labor force, technology, and human capital can all contribute to economic growth.
|