Question
Answer the following questions. a. What is meant by the statement The relatively Recent Arrival of Economic Growth? b. What is the effect of continued
Answer the following questions.
a. What is meant by the statement "The relatively Recent Arrival of Economic Growth"?
b. What is the effect of continued or compounded economic growth?
c. How is productivity connected to economic growth and what is needed for per capita GDP to grow?
d. What has happened historical to output per hour worked for the U.S?
e. What is meant by the statement "The Power of Economic Growth?
f. Do small changes in the growth rate have much of an effect on future per GDP?
g. What is meant by "A Healthy Climate for Economic Growth?
h.How does diminishing marginal returns favor convergence?
i. Why may convergence not be very likely or take a long time?
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